If in Some Year Nominal GDP Was $28 Trillion and Real

question 8

Multiple Choice

If in some year nominal GDP was $28 trillion and real GDP was $32 trillion,what was the GDP deflator?

• A)87.5.
• B)114.3.
• C)400.
• D)896.

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Definitions:

Legal Concessions

Rights or privileges granted by a government or authority to an individual or company, often relating to the use of land or natural resources.

Without Prejudice

Words that, when used during negotiation, are a declaration that concessions, compromises, and admissions made by a party cannot be used against that party in subsequent litigation.

Litigation

The process of taking legal action; the act of contesting a case in a court of law.

Mediation

A form of alternative dispute resolution where a neutral third party assists in reaching a mutually acceptable agreement between disputing parties.