Use the Following Information to Answer This Question

question 23

Multiple Choice

Use the following information to answer this question.If nominal GDP rises from $100 trillion to $120 trillion,while the GDP deflator rises from 2.0 to 2.2,the percentage change in real GDP is approximately equal to

• A)-10%.
• B)10%.
• C)20%.
• D)9.1%.
• E) 0%.

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Definitions:

Annual Profit

The total earned income of a business over one year after all expenses have been subtracted.

Normal Model

Another term for the normal distribution, highlighting its role as a foundational model in statistics for randomized data.

Policies

Formal guidelines or principles that govern actions and decisions within organizations or systems.

Independent

A term used to describe two or more events that have no influence on each other's outcomes, or variables that do not show dependence.