Assume That Between 1998 and 2008, Nominal GDP Increased from $7

question 98

Multiple Choice

Assume that between 1998 and 2008, nominal GDP increased from $7 trillion to $12 trillion and that the price index rose from 100 to 133.3. Which of the following expresses GDP for 2008 in terms of 1998 prices?

• A) $7.5 trillion
• B) $9.0 trillion
• C) $9.5 trillion
• D) $16.0 trillion

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Definitions:

Symptom Management

The practice of alleviating or managing the symptoms of a disease without necessarily addressing the underlying cause.

Surgery

A branch of medicine that treats injuries or disorders by operative or manual methods to physically change body tissues.

Outlet Covers

Protective devices designed to cover electrical outlets to prevent accidental contact with electrical connectors.

Electrical Cords

Flexible cables used to connect electrical appliances and devices to the main power supply.