What Is the Value of Real GDP in 2008 If

question 8

Short Answer

What is the value of Real GDP in 2008 if Nominal GDP was 1 131 586 ($million) and CPI was 161.4? $\begin{array}{|l|l|}\hline A&\text { 701 million dollars}\\\hline B&\text {7011 million dollars }\\\hline C&\text {701107 million dollars }\\\hline D&\text {None of these choices are correct. }\\\hline \end{array}$

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Definitions:

Construct Validity

The degree to which a measurement device accurately measures the theoretical construct it is designed to measure.

Reliability

The consistency and stability of measurements or assessments over time.

Validity

The degree to which a tool, test, or measure accurately represents or measures what it claims to.

Variability

The extent to which data points in a set differ from each other and from the average, indicating the spread or dispersion.