If GDP Rises by 200 Percent Since the Base Year

question 146

Short Answer

If GDP rises by 200 percent since the base year and output remains the same,then the GDP deflator in the current year is ___.

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Definitions:

Circular-Flow Diagram

A graphical representation illustrating the flow of funds among households, companies, and the government within an economy.

Factors Of Production

Inputs necessary for the creation of goods and services, including labor, land, capital, and entrepreneurship.

Circular-Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms, illustrating the interactions between key sectors of the economy.

Factors Of Production

Resources used in the creation of goods and services, traditionally categorized into land, labor, capital, and entrepreneurship.