If Nominal GDP for a Particular Year Is $4 Trillion

question 14

Multiple Choice

If nominal GDP for a particular year is $4 trillion and real GDP for that year is $5 trillion,then the GDP price index for that year is

• A)1.25
• B)20
• C)25
• D)80
• E)125

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Definitions:

Confederate States

The collection of Southern states that seceded from the United States in 1861, leading to the American Civil War, primarily over issues including states' rights and slavery.

Radical Abolitionists

Individuals in the 19th century who advocated for the immediate and complete abolishment of slavery, often taking more extreme measures than other anti-slavery activists.

Turning Points

Critical moments or events that lead to a significant change in the course of history or one's personal life.

Vicksburg, Mississippi

A city in the state of Mississippi, known for its pivotal role in the American Civil War, particularly the Siege of Vicksburg in 1863.