Refer to the accompanying data, using year 1 as the base year. All dollars are in billions. Real GDP increased from year 3 to year 4 by approximately Year Nominal GDP Price Index $3,166 100 3,402 104 3. 3,774 108 4. 3,989 112 O a. $68 billion. Ob. $215 billion. Oc. $75 billion. Od.$98 billion.

Refer to the accompanying data, using year 1 as the base year. All dollars are in billions. Real GDP increased from year 3 to year 4 by approximately Year Nominal GDP Price Index $3,166 100 3,402 104 3. 3,774 108 4. 3,989 112 O a. $68 billion. Ob. $215 billion. Oc. $75 billion. Od.$98 billion.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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