Table 15-4 the Country of Caspir Produces Only Cereal and Milk.Quantities and Milk.Quantities

question 200

Multiple Choice

Table 15-4
The country of Caspir produces only cereal and milk.Quantities and prices of these goods for the last several years are shown below.The base year is 2008.
Prices and Quantities

-Refer to Table 15-4.In 2008,this country's

• A) nominal GDP was greater than real GDP,and the GDP deflator was greater than 100.
• B) nominal GDP was equal to real GDP,and the GDP deflator was equal to 1.
• C) nominal GDP was less than real GDP,and the GDP deflator was less than 100.
• D) nominal GDP was equal to real GDP,and the GDP deflator was equal to 100.

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Definitions:

Purchase-Money Security

A legal interest or lien on a piece of property which secures the repayment of the funds used to purchase the property.

Collateral

An asset pledged by a borrower to secure a loan, subject to seizure in the event of default.

Secured Party

A secured party refers to an individual or entity that holds an interest in the secured property, typically as collateral, to secure payment or performance of an obligation.

Bankruptcy Law

A legal process through which individuals or entities unable to meet their financial obligations can seek relief from some or all of their debts.