The GDP Deflator Is Designed to Adjust Nominal GDP for Changes

question 87

Multiple Choice

The GDP deflator is designed to adjust nominal GDP for changes in

• A) the level of transfer payments.
• B) the quality of goods over time.
• C) the costs of economic bads such as pollution and crime.
• D) the general level of prices over time.

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Definitions:

Missed Field Goal

A missed field goal in sports, particularly American football, occurs when a player attempts to score by kicking the ball through the goalposts, but fails.

Scatter Diagram

A graph used to visualize the relationship between two quantitative variables, showing how one variable relates to another.