If in Some Year Real GDP Was $5 Trillion and the GDP

question 33

Multiple Choice

If in some year real GDP was $5 trillion and the GDP deflator was 200,what was nominal GDP?

• A)$2.5 trillion.
• B)$10 trillion.
• C)$40 trillion.
• D)$100 trillion.

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Definitions:

Conflict Theory

A theory in sociology that sees social life as a competition, and focuses on the distribution of resources, power, and inequality.

Feminist Theory

An analytical framework that explores the inequalities between men and women, advocating for women's rights and gender equality.

Domestic Labour

Work performed within the home, such as cooking, cleaning, and childcare, often unpaid and traditionally performed by women.

Capitalist System

A system of economics in which commerce, the industrial sector, and production resources are primarily or wholly owned and managed by private entities for financial gain.