If Real GDP Equals $200 Billion This Year and Nominal

question 106

Multiple Choice

If real GDP equals $200 billion this year and nominal GDP equals $300 billion,the price level since the base year has increased

• A)$100 billion
• B)$200 billion
• C)50 percent
• D)100 percent
• E)33 percent

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Definitions:

Sclera

The white or sclerotic outer coat of the eye.

Musculature

The system of muscles within the body, contributing to physical strength, movement, and posture.

Rule Out

To eliminate or exclude something as a possibility through investigation or evidence.

Abbreviation R/O

Stands for "Rule Out," used in medical context to indicate excluding a diagnosis.