The GDP Deflator in Year 3 Is 85 Using Year

question 187

Multiple Choice

The GDP deflator in year 3 is 85 using year 1 as a base year. This means that, on average, the price of goods and services is

• A) 15% higher in year 3 than in year 1.
• B) 7.5% higher in year 3 than in year 1.
• C) 15% higher in year 1 than in year 3.
• D) 7.5% higher in year 1 than in year 3.

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Definitions:

Cohabitants

Individuals who live together in a domestic partnership without being married.

Economic Status

The social position or class of an individual or group often measured by income, wealth, occupation, or education.

Intimate Relationships

Close, personal connections between individuals, characterized by emotional depth and intimacy, which can include both romantic and platonic relationships.

Liberal Values

Principles that emphasize individual freedoms, rights, equality, and support for social justice and progressive changes in society.