The GDP Deflator Is the

question 50

Multiple Choice

The GDP deflator is the

• A)difference between real GDP and nominal GDP multiplied by 100.
• B)difference between nominal GDP and real GDP divided by 100.
• C)ratio of real GDP to nominal GDP multiplied by 100.
• D)ratio of nominal GDP to real GDP multiplied by 100.

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Definitions:

National Labor Union

A historic labor federation in the United States, founded in 1866, that aimed to unify workers across different trades to fight for labor reforms.

Trades

Occupations that typically require specialized skills and knowledge, learned through on-the-job experience or formal training, often involving manual work and craftsmanship.

Crafts

Relates to activities involving skill and artisanship in the creation of handmade goods or the execution of specialized work, often emphasizing traditional techniques.

AFL

The American Federation of Labor, a historic federation of labor unions in the United States, founded to represent the interests of laborers.