If the Price Level Is 100 for 2005 and the Price

question 26

Multiple Choice

If the price level is 100 for 2005 and the price level is 106.5 in 2007,a nominal GDP in 2007 of $15,600 billion would mean that real GDP in 2007 (in 2005 prices) would be closest to

• A)$14,647.9 billion.
• B)$15,600.0 billion.
• C)$14,751.3 billion.
• D)$13,971.2 billion.

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