If a Small Country Has Current Nominal GDP of $25

question 74

Multiple Choice

If a small country has current nominal GDP of $25 billion and the GDP deflator is 125, what is its real GDP?

• A)$312.5 billion
• B)$207.5 billion
• C)$31.25 billion
• D)$20 billion

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Definitions:

Simple Random Samples

A subset of individuals chosen from a larger set, where each individual has an equal chance of being selected.

Selection Bias

A type of bias caused by selecting non-random data for statistical analysis, which can affect the validity of conclusions.

Systematic Tendency

A consistent, directional bias or movement in a series of data or measurements, often due to a specific cause.

Individuals

Single entities or members of a population being studied or considered in a statistical or observational analysis.