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In the First Quarter of 2010, Nominal GDP Was $14,592

question 147

Multiple Choice

In the first quarter of 2010, nominal GDP was $14,592.3 billion and the GDP deflator was 110.2. Real GDP for the first quarter of 2010, then, was equal to:

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Definitions:

Customs

What is considered normal and expected about the way people do things in a specific country.

Morals

Principles or beliefs about what is right and wrong, guiding behavior and serving as a basis for ethical decision-making.

Ethics

The moral principles and values that govern the actions and decisions of an individual or group.

Back Translation

The process of translating a document that has already been translated into another language back to the original language to check for accuracy.

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