(Table) According to the Table, Nominal GDP for 2013 Is

question 38

Multiple Choice

(Table) According to the table, nominal GDP for 2013 is approximately: $$\begin{array} { | l | c | c | c | } \hline & \mathbf { 2 0 1 2 } & \mathbf { 2 0 1 3 } & \mathbf { 2 0 1 4 } \\\hline \text { Nominal GDP (billions of S) } & 7,280 & & 8,000 \\\hline \text { Real GDP (billions of S) } & 7,280 & 7,425 & \\\hline \text { GDP deflator } & & 103.6 & 106.1 \\\hline\end{array}$$

• A) $7,292 billion.
• B) $7,492 billion.
• C) $7,692 billion.
• D) $7,892 billion.

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Definitions:

Net Price

The actual price paid for a product or service after subtracting any discounts, rebates, or allowances.

Discount

A reduction applied to a regular price or rate, often used as an incentive for purchasing goods or services.

Mark-up

The amount added to the cost price of goods to cover overhead and profit; the difference between the cost and selling price.

Retail Prices

The price at which goods and services are sold to the end consumer, inclusive of markup and VAT.