Suppose a Nation's Nominal GDP Is $972 Billion and the General

question 227

Multiple Choice

Suppose a nation's nominal GDP is $972 billion and the general price index is 90. To make this year?s GDP comparable with an earlier base year?s GDP, then this year?s GDP must be

• A) deflated to $678 billion.
• B) deflated to $896 billion.
• C) inflated to $1,080 billion.
• D) deflated to $1,080 billion.

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Definitions:

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Functionality

The range of operations that can be performed by a product or a system, especially in terms of its practical use and performance capability.

Conformance

Adherence to a set of standards, specifications, or regulations designed to ensure quality and compliance in products or services.

Capital Equipment

Long-term assets, such as machinery or buildings, used in the production of goods or services.