Suppose Nominal GDP Was $360 Billion in 2010 and $450

question 109

Multiple Choice

Suppose nominal GDP was $360 billion in 2010 and $450 billion in 2020.The appropriate price index was 100 in 2010 and 120 in 2020.It can be concluded that between 2010 and 2020 real GDP:

• A)increased by about $15 billion.
• B)decreased by about $32 billion.
• C)increased by about $90 billion.
• D)increased by about $117 billion.

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Definitions:

Condensed Segment Data

A summarized presentation of financial information by different segments within a business.

Prescriptive

An approach or method that provides specific instructions, rules, or recommendations to achieve a particular outcome.

Disclosure

The act of making new or important information known, especially about financial operations or conditions.

AASB 114

Australian Accounting Standards Board ruling 114, which sets guidelines for segment reporting by financial entities.