The Commerce Department revised its estimate of real GDP to $3.877 trillion, up from the earlier estimate of $3.835 trillion. Before adjusting for inflation, GDP was $4.603 trillion, up from $4.523 trillion. The GDP deflator used for revised calculations is a) 118.0 or less b) more than 118.0 but not more than 118.5 c) more than 118.5 but not more than 119.0 d) more than 119.0

The Commerce Department revised its estimate of real GDP to $3.877 trillion, up from the earlier estimate of $3.835 trillion. Before adjusting for inflation, GDP was $4.603 trillion, up from $4.523 trillion. The GDP deflator used for revised calculations is a) 118.0 or less b) more than 118.0 but not more than 118.5 c) more than 118.5 but not more than 119.0 d) more than 119.0

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter7: Taking The Nation's Economic Pulse

Section: Chapter Questions

Problem 1CQ

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