Table 10-3
the Table Below Reports Nominal and Real GDP

question 189

Multiple Choice

Table 10-3
The table below reports nominal and real GDP for the U.S. from 1929 to 1932. $$\begin{array} { c c c } \hline \text { Year } & \begin{array} { c } \text { Nominal } \\\text { GDP }\end{array} & \text { Real GDP } \\\hline 1929 & 103.6 & 977 \\1930 & 91.2 & 892.8 \\1931 & 76.5 & 834.9 \\1932 & 58.7 & 725.8 \\\hline\end{array}$$
-Refer to Table 10-3. What is the GDP deflator and the inflation rate for 1931?

• A)9.16, -11.5
• B)9.16, -10.3
• C)1091.37, 10.3
• D)1091.37, 11.5

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Definitions:

Satisfy Customers

The business goal of meeting or exceeding the needs and expectations of customers, often leading to increased loyalty and repeat business.

Generate Profits

The process of creating a financial gain for a business, typically through revenue exceeding costs.

Social Media

Websites and applications designed for social networking, content sharing, and community engagement, allowing users to create and share content or participate in social networking.

Discounts

Reductions from the usual cost of goods or services offered to customers, typically to encourage purchases.