Use the Following Table to Answer the Following Questions

question 115

Multiple Choice

Use the following table to answer the following questions:

-According to the table,the country with the lowest average yearly budget deficit over the time period is

• A) the United States.
• B) France.
• C) Italy.
• D) Belgium.
• E) Australia.

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Definitions:

Real Gross Domestic Product

A measure adjusted for inflation that shows the value of all products and services produced within an economy in a specific year.

Nominal Gross Domestic Product

The market value of all final goods and services produced within a country in a year, measured using current prices without adjustment for inflation.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, a measure of inflation or deflation.

Price Index

A statistical measure that examines the weighted average of prices of a basket of consumer goods and services, showing trends over time.