If the Nominal GDP Was Reported at $1,351

question 6

Multiple Choice

If the nominal GDP was reported at $1,351.90 billion and inflation was 3.8%,what is the level of real GDP for the period?

• A) $1,289.54
• B) $1,302.41
• C) $1,344.92
• D) $1,385.01
• E) $1,402.45

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Definitions:

Memory

The mental capacity for storing and retrieving information.

Short-term Memory

Retaining a small volume of information actively on hand in the brain for a quick moment.

Forgetting

The loss or inability to recall information that was previously encoded into long-term memory.

Seconds

The base unit of time in the International System of Units (SI), defined as the duration of 9,192,631,770 periods of the radiation corresponding to the transition between two hyperfine levels of the ground state of the cesium-133 atom.