If Nominal GDP in Some Year Is $280 and Real

question 86

Multiple Choice

If nominal GDP in some year is $280 and real GDP is $160, then the GDP price index for that year is

• A) 175.
• B) 57.
• C) 160.
• D) 280.

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Definitions:

Joint Control Agreement

An agreement between two or more parties to share control over strategic financial and operating decisions of a venture.

Profit

The financial surplus remaining after subtracting total expenses from total revenue.

Joint Control

A situation in which two or more parties have agreed to share control over an economic activity or entity.

Unilateral Control

The exclusive power or authority one entity or country holds over another, without requiring consent or cooperation from the latter.