If the GDP Deflator Is 142, by How Much Have

question 109

Multiple Choice

If the GDP deflator is 142, by how much have prices changed since the base year?

• A)Prices have increased by 42%.
• B)Prices have increased by 142%.
• C)Prices have decreased by 4.2%.
• D)Prices have increased by 58%.
• E)Prices have increased by 70.5%.

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Definitions:

Second Mortgage

A loan taken out on a property that is already mortgaged, with the second loan being subordinate to the first.

Mortgage Rate

The interest rate charged by a lender for a loan used to purchase a property.

Average Cost

The total cost of production divided by the number of units produced, representing the cost per unit.

Shares

Units of ownership in a company or financial asset, giving shareholders a portion of the company's profits and voting rights.