Suppose in 2007, Nominal GDP in a Country Clarendon Was

question 144

Multiple Choice

Suppose in 2007, nominal GDP in a country Clarendon was $12,840 billion and real GDP was $10,560 billion. Calculate the value of the implicit price deflator, in the way such numbers are normally published.

• A) 21.59
• B) 82.24
• C) 121.59
• D) 177.57

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Definitions:

Fair Competition

A principle of marketplace ethics and law that ensures businesses compete on a level playing field, without engaging in deceitful, unfair, or monopolistic practices.

Public Works Program

Government-funded projects aimed to construct public facilities or infrastructure and often used to provide employment.

Legal Fees

Charges for the advice and services provided by lawyers, solicitors, or other legal professionals.

Public Support

The backing or endorsement from the general public or specific societal groups for an idea, policy, or entity.