Refer to the Following Table When Answering
Table

question 5

Multiple Choice

Refer to the following table when answering
Table 2.4: U.S. and Eurozone Nominal GDP in 2011
$$\begin{array} { l | c } \hline & 2011 \\\hline \text { Eurozone nominal GDP (€ billions) } & € 13,144 \\\text { U.S. nominal GDP (\$ billions) } & \$ 15,100 \\\text { Dollar/euro exchange rate } & \$ 1.28 \text { /€1 } 1 \\\text { PEz } & \\& \\& \\\text { /Pus } & 0.96 \\\hline\end{array}$$
-Consider the data in Table 2.4. When we convert the Eurozone's nominal GDP into dollars and adjust for price differences, the U.S. economy is about ________ times ________ than the Eurozone economy.

• A) 0.93; smaller
• B) 1.07; smaller
• C) 1.47; bigger
• D) 0.61; smaller
• E) 1.09; bigger

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Definitions:

$157 Billion

A monetary figure representing a vast sum, often used in contexts of national budgets, total wealth of extremely wealthy individuals, or major corporate valuations.

$304 Billion

Represents a numerical value or amount, potentially referencing a budget, economic valuation, or other financial figure, without specific context provided here.

Mikhail Gorbachev

The last leader of the Soviet Union, known for his policies of glasnost (openness) and perestroika (restructuring), which contributed to the end of the Cold War and the dissolution of the Soviet Union.

Market Mechanisms

Processes through which the prices of goods and services are established in a free market economy, based largely on supply and demand.