Suppose Real GDP Equals $200 Billion This Year and Nominal

question 119

Multiple Choice

Suppose real GDP equals $200 billion this year and nominal GDP equals $300 billion.How much has the price level increased since the base year?  

• A) 33 percent 
• B) 50 percent 
• C) 100 percent 
• D) 150 percent

---

Definitions:

Glacial Periods

Times during Earth's history when large ice sheets covered significant portions of the planet's surface, significantly impacting climate and the environment.

Solar Output

The total amount of energy that the sun emits over a specific time period.

Polar Ice

Frozen water in the polar regions of Earth, including ice caps, glaciers, and sea ice, which plays a crucial role in the global climate system.

Negative Feedback Loop

A process in a system where the output may feed back into the system to counterbalance changes and maintain stability within the system.