If the GDP Deflator Is Less Than 100,then for That

question 98

Multiple Choice

If the GDP deflator is less than 100,then for that year,nominal GDP ________ real GDP.

• A)equals
• B)is greater than
• C)is less than
• D)may be greater than or less than

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Definitions:

Productivity

The efficiency with which input resources are converted into outputs, often measured as output per unit of input.

Marginal Product

The increase in output that results from employing one more unit of a particular factor of production, holding all else constant.

Radios

Electronic devices designed to receive and amplify audio broadcasts from radio stations, allowing for the wireless transmission of music, news, and other types of content.

Manufacture

The process of producing goods through the use of machinery, tools, and labor, often on a large scale.