Assume That, in the Base Year (2011), a Country's Nominal

question 7

Multiple Choice

Assume that, in the base year (2011) , a country's nominal GDP is $10,000 billion. The country has had 5% inflation each year since 2006. Real GDP of 2011 is equal to:

• A) $10,500 billion.
• B) $11,025 billion.
• C) $10,000 billion.
• D) $9,500 billion.

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Definitions:

Supply

The total amount of a product or service that is available for purchase at any given point in time.

Transportation Problem

A type of optimization challenge in operations research focusing on finding the most efficient distribution of products from several suppliers to multiple consumers.

Origin Points

Origin points refer to the initial locations or starting places from where goods, services, or journeys begin.

Destination Points

Specific locations to which goods or services are delivered. These can include retail locations, warehouses, or end-customer addresses.