A Country Reported a Nominal GDP of $115 Billion in 2006

question 215

Multiple Choice

A country reported a nominal GDP of $115 billion in 2006 and $125 billion in 2005;it reported a GDP deflator of 85 in 2006 and a deflator of 100 in 2005.Between 2005 and 2006,

• A)real output and the price level both rose.
• B)real output rose and the price level fell.
• C)real output fell and the price level rose.
• D)real output and the price level both fell.

Interpret and utilize financial tables to make business decisions.

Understand the Rule of 72 and its application in estimating the time required for an investment to double.

Comprehend how compounding frequency impacts the growth of investments.

Grasp the concept of the time value of money and the importance of the opportunity rate.

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