If Nominal GDP Is $10,000 and Real GDP Is $8,000

question 103

True/False

If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125.

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Definitions:

Characteristics

Qualities or features that are typical of a person, thing, or group and serve to identify them.

Delegation

The assignment of responsibility or authority from one person to another for specific tasks or functions.

Organic Company

A business that is flexible, adaptive, and informal in its structure and operations, often contrasted with more bureaucratic, traditional firms.

Barriers

Obstacles that impede progress or achievement.