In the Year 2008,suppose That GDP Is $15 Trillion and the GDP

question 157

Multiple Choice

In the year 2008,suppose that GDP is $15 trillion and the GDP deflator is 150.In the year 2009,GDP is $20 trillion and the GDP deflator is 200.Which one of the following is true?

• A)Real GDP is greater in 2009 than in 2008.
• B)Real GDP is greater in 2008 than in 2009.
• C)Real GDP is the same in 2008 and 2009.
• D)There is not enough information to determine if real GDP rose,fell,or remained the same.

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Definitions:

Repudiated the Contract

The act of refusing to perform the duties or obligations set forth in a contract.

Withdrawn

Refers to the act of taking back or removing an offer, statement, or accusation before it has been accepted or acted upon.

Changes Mind

Changing mind refers to the act of altering one's decision or opinion about a previously made choice or stance.

Rejecting Delivery

The act of refusing to accept goods or delivery of goods, typically because they do not meet the terms of a contract or order.