Suppose Nominal GDP for a Particular Year Is $6 Trillion

question 79

Multiple Choice

Suppose nominal GDP for a particular year is $6 trillion and real GDP for that year is $5 trillion.What is the GDP price index for that year?  

• A) 17 
• B) 20 
• C) 83 
• D) 120

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Definitions:

Seventeenth-Century

Referring to the period from 1601 to 1700, marking significant developments in various fields such as science, culture, and politics.

Nineteenth-Century

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A farmer who is financially prosperous or successful, often resulting from effective agricultural practices and land management.

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A theory that proposes that our understanding of reality is shaped through human interactions and societal norms rather than inherent qualities.