A Country Reported a Nominal GDP of $85 Billion in 2008

question 164

Multiple Choice

A country reported a nominal GDP of $85 billion in 2008 and $100 billion in 2007.It also reported a GDP deflator of 100 in 2008 and 105 in 2007.Between 2007 and 2008,

• A) real output and the price level both rose.
• B) real output rose and the price level fell.
• C) real output fell and the price level rose.
• D) real output and the price level both fell.

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Definitions:

Protected Person

Someone who, according to the Immigration and Refugee Protection Act, meets the definition of a Convention refugee and can also mean a person in Canada who, if they were sent home, would be tortured or at risk of cruel and unusual treatment or punishment.

Privately Sponsored Refugee

A refugee who is supported financially and socially by private individuals or groups rather than by the government directly.

Internally Displaced Person

Someone who is forced to flee their home but remains within their country's borders, often due to conflict, violence, or natural disasters.

Armed Militants

Individuals or groups that use weapons and engage in acts of violence, often for political purposes or to challenge established authority.