If in Some Year Nominal GDP Was $10 Trillion and Real

question 12

Multiple Choice

If in some year nominal GDP was $10 trillion and real GDP was $4 trillion,what was the GDP deflator?

• A)25.
• B)40.
• C)250.
• D)400.

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Definitions:

Legal Fiction

A fact assumed by courts for legal reasoning purposes, despite its actual falsehood, often used to achieve equity or adhere to a legal doctrine.

Corporation

A legal entity recognized by law, separate from its owners, with rights to own property, incur debt, sue, and be sued.

General Security Agreement

A contract that creates a security interest in all assets of the borrower, present and future.

Shareholder's Loan

A loan given to a company by one of its shareholders, typically used for startup or growth financing.