If in Some Year Nominal GDP Was $18 Billion and the GDP

question 19

Multiple Choice

If in some year nominal GDP was $18 billion and the GDP deflator was 120,what was real GDP?

• A)$6.7 billion.
• B)$15 billion.
• C)$21.6 billion.
• D)$38 billion.

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Definitions:

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The amount by which a government's expenditures exceed its tax revenues over a specified fiscal period at the federal level.