If Real GDP in a Particular Year Is $80 Billion

question 185

Multiple Choice

If real GDP in a particular year is $80 billion and nominal GDP is $240 billion, the GDP price index for that year is

• A) 100.
• B) 200.
• C) 240.
• D) 300.

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Definitions:

Perceived Opportunities

Opportunities that individuals or organizations believe exist and can be capitalized on, even if they have not been quantitatively proven.

Perseverance

The continued effort to do or achieve something despite difficulties, failures, or opposition.

Long-term Goals

Objectives set with an extended timeframe in mind, usually exceeding one year, to achieve significant accomplishments.

Deliberate Practice

Carrying out carefully focused efforts to improve current performance.