If the Real GDP in 2003 Is $12,400 Billion and the Implicit

question 34

Multiple Choice

If the real GDP in 2003 is $12,400 billion and the implicit price deflator is 1.4, what is the approximate value of nominal GDP in 2003?

• A) $8,860 billion
• B) $15,880 billion
• C) $12,140 billion
• D) $17,360 billion

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Definitions:

Bladder

An organ that stores urine excreted by the kidneys before elimination from the body.

Nephrons

The basic structural and functional unit of the kidney, responsible for filtering blood and producing urine.

Waste Products

Materials that are not wanted or are surplus after the completion of a process or during bodily functions.

Fluid Balance

The equilibrium between the fluid intake and fluid loss in the body to maintain health and proper physiological functions.