Assume That Between 1998 and 2008, Nominal GDP Increased from $7

question 98

Multiple Choice

Assume that between 1998 and 2008, nominal GDP increased from $7 trillion to $12 trillion and that the price index rose from 100 to 133.3. Which of the following expresses GDP for 2008 in terms of 1998 prices?

• A) $7.5 trillion
• B) $9.0 trillion
• C) $9.5 trillion
• D) $16.0 trillion

---

Definitions:

Skill Memory

The component of long-term memory that is responsible for knowing how to do things, also known as procedural memory, involving the performance of different skills and actions.

Amygdala

A section of the brain's limbic system involved in processing emotions, emotional behavior, and motivation, notably fear and pleasure responses.

Cerebellum

A part of the brain located at the back of the skull that is responsible for coordinating and regulating voluntary movements.

Brain Regions

Specific areas within the brain that have distinct functions, such as the prefrontal cortex which is involved in decision making and personality development.