In Order to Convert Nominal GDP to Real GDP,we Must

question 86

Multiple Choice

In order to convert nominal GDP to real GDP,we must divide

• A)real GDP by the price index
• B)nominal GDP by the price index
• C)the price index by nominal GDP
• D)the price index by real GDP
• E)nominal GDP by real GDP

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Definitions:

Carbon Tax

A levy on the carbon content of fossil fuels, intended to reduce carbon dioxide emissions and combat climate change.

Foreclosures

The legal process by which a lender takes control of a property, evicts the homeowner, and sells the home after the homeowner fails to make full principal and interest payments on a loan.

Banks

Financial institutions that accept deposits, offer loans, and provide a wide range of financial services to individuals and businesses.

Bubble

An economic condition characterized by the rapid escalation of asset prices followed by a contraction when the price increases are not supported by fundamentals.