Suppose Nominal GDP in Year 1 Was $100 Billion and in Year

question 121

Multiple Choice

Suppose nominal GDP in year 1 was $100 billion and in year 2 it was $260 billion. The general price index in year 1 was 100 and in year 2 it was 180. Real GDP in year 2 was

• A) $160 billion.
• B) $144 billion.
• C) $44 billion.
• D) $80 billion.

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Definitions:

Marketing Environment

The various external forces, such as social, economic, political, and technological factors, that affect a company's marketing strategies and operations.

Domestic And Foreign Cars

Classifications of cars based on their country of origin; domestic cars are produced within one's own country, whereas foreign cars are imported.

Oligopoly

A market structure characterized by a small number of firms controlling the majority of market share, leading to limited competition.

Price Competition

A market strategy where businesses attempt to attract customers by undercutting competitors' prices.