The GDP Deflator for a Given Year Is Equal to 100

question 340

True/False

The GDP deflator for a given year is equal to 100 times nominal GDP for that year divided by real GDP for that year expressed in prices of a selected base year.

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Definitions:

Sensory Receptors

Specific cells or nerve terminations that react to environmental alterations by creating electrical signals.

Ruffini End Organ

Sensory receptors located in the skin and tendons that detect skin stretch and joint activity, contributing to the sense of proprioception.

Merkel Disks

Slow-adapting tactile receptors in the skin that respond to light touch and pressure.

Cerebral Cortex

The outer layer of the brain's cerebrum, involved in many complex brain functions including memory, attention, perception, cognition, awareness, thought, language, and consciousness.