The Table Below Shows Total Output for an Economy Over

question 104

Multiple Choice

The table below shows total output for an economy over 2 years. TABLE 20-8 Refer to Table 20-8.The implicit GDP deflator in 2018 (using 2017 as the base year) is

• A)71.59.
• B)100.
• C)103.4.
• D)114.6.
• E)139.7.

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Definitions:

North America

A continent located in the northern hemisphere, bordered by the Arctic Ocean to the north, the Atlantic Ocean to the east, the Pacific Ocean to the west, and South America to the south.

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, reflecting a negative balance of trade.

NAFTA

The North American Free Trade Agreement, a treaty between the United States, Canada, and Mexico that aimed to reduce trading barriers.

Mexico

A country in the southern portion of North America, known for its rich cultural heritage, diverse landscapes, and significant contributions to art, cuisine, and music.