Suppose That 1996 Is the Base Year, in Which Price

question 134

Multiple Choice

Suppose that 1996 is the base year, in which price index equals 100.And suppose that in 2010 the price index was 200, and nominal GDP was $6.2 trillion.What was real GDP in 2010, measured in 1996 dollars?  

• A) $3.1 trillion 
• B) $6.2 trillion 
• C) $12.4 trillion 
• D) $18.6 trillion

---

Definitions:

Personnel Department

A segment of an organization responsible for managing human resources, including recruitment, training, and welfare of staff.

Conducting Interviews

The process of asking someone questions to gather information, often used in research, journalism, or employment selection.

Applicants' Explanations

Justifications or reasons given by applicants, often in the context of job applications or academic submissions, detailing their qualifications, experiences, or decisions.

Collectivist Society

A society that prioritizes the group over individual interests, emphasizing the importance of community and interdependence.