A Country Reported a Nominal GDP of $115 Billion in 2015

question 131

Multiple Choice

A country reported a nominal GDP of $115 billion in 2015 and $125 billion in 2014 and reported a GDP deflator of 85 in 2015 and 100 in 2014.What happened to real output and prices from 2014 to 2015?

• A) Real output and prices both rose.
• B) Real output fell and prices rose.
• C) Real output rose and prices fell.
• D) Real output and prices both fell.

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Definitions:

Lens

A transparent structure in the eye that focuses light rays onto the retina, allowing visual images to be clearly observed.

Myopia

A vision condition where objects nearby are seen clearly, but those at a distance appear blurred.

Blindsight

A condition in which a person can respond to a visual stimulus without consciously experiencing it.

Cataracts

A medical condition where the lens of the eye becomes progressively opaque, leading to blurred vision.