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

question 73

Multiple Choice

Figure 7-2
-Refer to Figure 7-2. If the real GDP is $7,000 billion and the implicit price deflator is 1.12, what is the value of nominal GDP?

• A) $6,250 billion
• B) $7,840 billion
• C) $9,000 billion
• D) cannot be determined from the information given

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Definitions:

Devil's Advocate

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