If Real GDP Doubles and the GDP Deflator Doubles, What

question 43

Multiple Choice

If real GDP doubles and the GDP deflator doubles, what will happen to nominal GDP?

• A) It will stay the same.
• B) It will double.
• C) It will triple.
• D) It will quadruple.

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Definitions:

StdDev

Another term for standard deviation, indicating how much individual data points deviate from the mean.

Median

The central number that splits a dataset into two equal parts, distinguishing the upper half from the lower half.

Ogive

A graphical representation of the cumulative frequency or cumulative relative frequency on a graph, often used in statistics.

IQR

The interquartile range (IQR) is a measure of statistical dispersion, representing the difference between the 75th (upper quartile) and 25th (lower quartile) percentiles of a data set.