If the Base Year for the GDP Deflator Is 2005

question 134

Multiple Choice

If the base year for the GDP deflator is 2005 and the value of the deflator during 2011 is 115, this indicates that the general level of prices

• A) declined by 15 percent between 2005 and 2011.
• B) increased by 15 percent each year during 2005-2011.
• C) was approximately 15 percent higher in 2011 than in 2005.
• D) was approximately 115 percent higher in 2011 than in 2005.

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Definitions:

Roger Taney

A historical figure known for serving as the fifth Chief Justice of the United States Supreme Court, most notably for delivering the Dred Scott decision which declared African Americans could not be American citizens.

Anti Federalists

A group of individuals in the early United States who opposed the ratification of the Constitution, fearing it gave too much power to the national government.

Necessary and Proper Clause

A provision in the U.S. Constitution granting Congress the power to pass all laws deemed necessary and proper for executing its enumerated powers.

Equal Representation

The principle of giving each group or jurisdiction, regardless of size or population, the same number of representatives in a legislative or decision-making body.