Table 4.14 -Refer to Table 4.14.Consider the Data Shown Above on Nominal

question 80

Multiple Choice

Table 4.14
-Refer to Table 4.14.Consider the data shown above on nominal GDP and real GDP (values are in billions of dollars) .The GDP deflator for 2016 equals

• A)92.2.
• B)102.6.
• C)108.2.
• D)109.1.
• E)115.2

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Definitions:

Factory Owners

Individuals or entities that own establishments where goods are produced through the use of machines and labor.

Socialist Party

A political party advocating for socialism, which involves social ownership of the means of production and democratic control or regulatory mechanisms over the economy.

Local Officials

Individuals holding office or positions of authority in local government, responsible for administering laws, policies, and services at a municipal or regional level.

Economic Exploitation

The act of using someone's labor unfairly for economic gain, often by paying low wages or by upholding unjust working conditions.