If Nominal GDP for a Particular Year Is $6 Trillion

question 200

Multiple Choice

If nominal GDP for a particular year is $6 trillion and real GDP for that year is $5 trillion,then the GDP price index for that year is

• A)1.2
• B)17
• C)20
• D)83
• E)120

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Definitions:

Spatial Equivalence

The concept that two or more entities occupy the same area or space in relation to each other.

Propositional Representation

The theory that all knowledge can be expressed in semantic-based propositions or statements, depicting relationships between concepts.

Verbal

Pertaining to words and language, especially the use and understanding of words in communication and reasoning.

Visual

Relating to seeing or sight, involving the use and interpretation of visual information.