Table 71 GDP Based on Table 7

question 69

Multiple Choice

$\begin{array}{rrrr}&\text { Nominal GDP }\\&\text { (in billions of dollars) }&\text { GDP deflator }&\text { CPI }\\\hline2002 & \$ 6,992.4 & 106.2 & 151.6 \\2003 & 7,431.6 & 109.1 & 153.8 \\2004 & 7,843.2 & 112.3 & 157.8\end{array}$

Table 7.1 GDP Based on Table 7.1,the rate of inflation between 2002 and 2003 using the CPI was

• A)1.5 percent.
• B)2.2 percent.
• C)6.2 percent.
• D)4.1 percent.

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Definitions:

Long-Term Investments

Investments that are not readily marketable or that management does not intend to convert into cash within the next year or operating cycle, whichever is longer.

Short-Term Price Differences

Variations in prices or costs that occur over a short period, often related to fluctuations in demand, supply, or market conditions.

Fair Value

An estimate of the market value of an asset or liability, based on current market prices or valuations.

IFRS

International Financial Reporting Standards, a set of accounting principles for financial reporting used globally.