Figure 7-2 -Refer to Figure 7-2. If the Real GDP Is $7,000

question 106

Multiple Choice

Figure 7-2
-Refer to Figure 7-2. If the real GDP is $7,000 billion and the implicit price deflator is 1.08, what is the value of nominal GDP?

• A) $6,481 billion
• B) $7,000 billion
• C) $7,560 billion
• D) cannot be determined from the information given