The Implicit Price Deflator Is Given by the Formula

question 85

Multiple Choice

The implicit price deflator is given by the formula:

• A) nominal GDP in current period ÷ nominal GDP in base period.
• B) nominal GDP in current period ÷ real GDP in base period.
• C) nominal GDP ÷ real GDP.
• D) real GDP ÷ nominal GDP.

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Definitions:

Cognitive Developments

The process by which an individual's ability to think, understand, and reason matures over time.

Haphazard

Lacking any obvious principle of organization; random or disorganized.

Developmental Stage

A distinct period in the life span characterized by particular patterns of behavior and cognitive abilities.

Cognitive Development

encompasses the evolution of cognitive processes and abilities, such as thinking, reasoning, and problem-solving, through various stages of childhood into adulthood.