Nominal GDP Is $10 000 Billion in 2008,but Real GDP

question 86

Multiple Choice

Nominal GDP is $10 000 billion in 2008,but real GDP is only $9000 billion.What is the GDP deflator equal to?

• A)The GDP deflator is equal to 90.
• B)The GDP deflator is equal to 100.
• C)The GDP deflator is equal to 111.
• D)The GDP deflator is equal to 119.

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Definitions:

Declaration of Independence

A foundational document proclaimed on July 4, 1776, declaring the thirteen American colonies' independence from British rule.

French and Indian War

A conflict between Great Britain and France (1754-1763) in North America, part of a larger imperial struggle, the Seven Years' War, involving native American allies on both sides.

French Blockade

The use of naval forces by France to prevent ships from entering or leaving port, particularly during the Napoleonic Wars, as a means to weaken enemy countries economically.

Washington's Ability

Refers to the skills, leadership qualities, and strategic insights of George Washington, especially as a military commander during the American Revolution and as the first President of the United States.