The Table Below Shows Total Output for an Economy Over

question 115

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 2015 (using 2014 as the base year) is

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

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Definitions:

Promissory Note

A written promise to pay a specified sum of money to a certain individual or entity at a specified time or on demand.

Fictitious-Payee Rule

A principle in commercial law that a bank is not liable for fraudulent endorsement payments if the drawer intended the payee to be fictitious.

Refund

The process of returning funds to a purchaser in response to a product return, cancellation, or dissatisfaction with services provided.

Endorser

A person who signs their name on a document, often a check, to indicate their approval or to transfer ownership to another party.