If Nominal GDP Is $12 Trillion and Real GDP Is

question 41

Multiple Choice

If nominal GDP is $12 trillion and real GDP is $10 trillion,then the GDP deflator is

• A)83.33,and this indicates that the price level has decreased by 16.67 percent since the base year.
• B)83.33,and this indicates that the price level has increased by 83.33 percent since the base year.
• C)120,and this indicates that the price level has increased by 20 percent since the base year.
• D)120,and this indicates that the price level has increased by 120 percent since the base year.

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Definitions:

Emotional Appeal

A persuasive technique targeting emotions to influence an audience's response or motivate action.

Security Needs

The need for safety and protection in both physical and emotional aspects.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which suggests that people are motivated to fulfill basic needs before moving on to other needs, forming a hierarchy.

Absence Of Pain

A state or condition in which an individual does not experience discomfort or distress, physically or emotionally.