If the Nominal GDP Was Reported at $122

question 55

Multiple Choice

If the nominal GDP was reported at $122.3 billion and real GDP was reported at $120.1 billion,what was the inflation rate for the period?

• A) 1.59%
• B) 1.83%
• C) 2.32%
• D) 2.62%
• E) 2.88%

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Definitions:

Personality Test

A psychological instrument or questionnaire designed to reveal aspects of an individual's character or psychological makeup.

Thematic Apperception Test

A projective psychological test where individuals express their thoughts and feelings through the stories they create about ambiguous pictures.

Rorschach Test

A psychological test in which subjects' perceptions of inkblots are analyzed as a measure of emotional and intellectual functioning.

Story

A narrative, either true or fictitious, designed to interest, amuse, or instruct the listener or reader.