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The GDP Deflator Is the Ratio of Nominal GDP to Real

question 41

True/False

The GDP deflator is the ratio of nominal GDP to real GDP.


Definitions:

Plants

Multicellular organisms in the kingdom Plantae that photosynthesize, using sunlight to convert carbon dioxide and water into glucose and oxygen.

Consumer

An individual or group that purchases goods and services for personal use, playing a critical role in the economy by driving demand and influencing production.

Organism

A living entity consisting of one cell, like bacteria, or many cells, like plants, animals, and humans.

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