What Is Real GDP in 2014 Dollars If Nominal GDP

question 50

Multiple Choice

What is real GDP in 2014 dollars if nominal GDP in 2014 is $15,000 billion, the GDP deflator in 2014 is 110, and the GDP deflator in 2010 was 100?

• A) $9, 100 billion
• B) $13,636 billion
• C) $14,010 billion
• D) $16, 500 billion

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Definitions:

Hypotheses

Tentative explanations or predictions that can be tested through observation and experimentation.

Gadd Severity Index

A scoring system used to measure the severity of criminal behavior by evaluating the seriousness of crimes committed.

Margin of Error

In statistics, it represents the range within which the true value of a population parameter is expected to fall, given a certain level of confidence.

Confidence Interval

A range of values derived from sample statistics that is likely to contain the value of an unknown population parameter.