If the Nominal GDP Was Reported at $1,677 Billion and Inflation

question 20

Multiple Choice

If the nominal GDP was reported at $1,677 billion and inflation was 1.25%, what is the level of real GDP for the period?

• A)$1,579.54
• B)$1,591.41
• C)$1,612.75
• D)$1,656.30
• E)$1,673.95

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Definitions:

Alcove

A recessed section of a room or garden, often used for seating or display of items.

Nezumi

Japanese, “mouse-gray” (ceramics).

Engawa

A traditional Japanese architectural feature that serves as an intermediary space or veranda between the indoors and the outdoors.

Haboku

In Japanese art, a loose and rapidly executed painting style in which the ink seems to have been applied by flinging or splashing it onto the paper.