The GDP Deflator in Year 2 Is 105, Using Year

question 206

Multiple Choice

The GDP deflator in year 2 is 105, using year 1 as the base year.This means that, on average, the cost of goods and services is

• A)5% higher in year 2 than in year 1.
• B)105% higher in year 2 than in year 1.
• C)5% higher in year 1 than in year 2.
• D)105% higher in year 1 than in year 2.
• E)95% higher in year 2 than in year 1.

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