If Nominal GDP Is $5 Trillion and Real GDP Is

question 41

Multiple Choice

If nominal GDP is $5 trillion and real GDP is $4 trillion, the GDP deflator is

• A)0.8.
• B)12.5.
• C)80.
• D)125.
• E)800.

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Definitions:

Public International Law

Laws that govern interactions of nation-states

Supranational Law

International law that limits the rights of sovereign governments.

Property Rights

The rights of companies and individuals to own resources, make decisions about how to use it, and reap the returns or losses of business activities

Riparian Rights

Legal entitlements related to the ownership of land adjacent to rivers, lakes, or streams, often concerning the use and access to the water.