In 2010, Real GDP Was $13

question 109

Multiple Choice

In 2010, real GDP was $13.2 trillion and nominal GDP was $14.6 trillion. What was the GDP deflator for that year?

• A) 90.4
• B) 192.7
• C) 110.6
• D) There is not enough information to calculate the GDP deflator.

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Definitions:

Pharmaceutical Company

An enterprise engaged in the research, development, production, and marketing of medications and healthcare products.

Physicians

are medical professionals who diagnose, treat, and help prevent diseases and injuries.

Competitor's Rates

The pricing strategies or rates set by companies competing in the same market or industry.

Price Wars

A competitive strategy where companies continuously lower prices to outdo competitors, often resulting in reduced profit margins.