Exhibit 18-6 Multiple Choice

question 66

Multiple Choice

Exhibit 18-6
Multiple Choice
-According to the data in Exhibit 18-6, using 2016 as the base year, the GDP price deflator in 2017 was

• A) 8.
• B) 1.25.
• C) 1.28.
• D) 0.78.
• E) 1.30.

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Definitions:

Production Possibility Curve

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve with existing resources and technology.

Capital

In economics, capital refers to the financial assets or the resources that businesses use to produce goods and services, such as equipment, buildings, and machinery.

Japan

An island country located in East Asia, known for its rich culture, technological advancements, and strong economy.

Improvement

The process of making something better or more effective through changes, upgrades, or enhancements.