The GDP Deflator Is a Measure Of

question 74

Multiple Choice

The GDP deflator is a measure of:

• A) price level.
• B) the growth rate of nominal GDP.
• C) the growth rate of real GDP.
• D) the growth rate of long-run trend GDP.
• E) how much the economy contracts during a recession.

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Definitions:

United States

A country located in North America, consisting of 50 states, and known for its significant impact on global culture, economy, and politics.

1980s

Refers to the decade recognized for significant cultural, political, and technological changes impacting various sectors globally.

Operational Approach

A manner of addressing tasks and problems through practical, action-based strategies focused on the efficient functioning of an organization.

Functional Approach

The functional approach focuses on how specific roles, responsibilities, and tasks within an organization are organized according to different functions or departments to achieve efficiency and effectiveness.