Nominal GDP in the First Quarter of 2010 Was $14,592

question 127

Multiple Choice

Nominal GDP in the first quarter of 2010 was $14,592.3 billion.The GDP deflator was 110.2 in the first quarter of 2010.Real GDP for the first quarter of 2010 was equal to:

• A) $13,133.1 billion.
• B) $13,241.7 billion.
• C) $13,103.9 billion.
• D) $13,424.9 billion.

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Definitions:

Available-For-Sale Securities

Available-For-Sale Securities are financial assets that are not classified as held-to-maturity or trading securities. These can be sold in response to liquidity needs or changes in interest rates, market conditions, or investment strategies.

Fair Value

The estimated market value of an asset or liability, based on current market conditions rather than historical cost.

Trading Securities

Financial assets such as stocks or bonds, bought and held primarily for the purpose of selling them in the near term to realize short-term gains.

Fair Value

An estimate of the market value of an asset or liability, reflecting the amount for which it could be exchanged or settled between knowledgeable, willing parties in an arm's length transaction.