If Nominal GDP Was $9,200 Billion in Year 1 and $9,420

question 33

Multiple Choice

If nominal GDP was $9,200 billion in Year 1 and $9,420 billion in Year 2 and prices increased from Year 1 to Year 2, then

• A)real GDP was larger in Year 1 than in Year 2
• B)real GDP was larger in Year 2 than in Year 1
• C)the GDP-deflator must have been 122
• D)the GDP-deflator must have been 102
• E)we cannot determine the value of the GDP-deflator or real GDP in Year 2

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