Nominal Output Has Increased from $600 Billion to $720 Billion

question 49

Essay

Nominal output has increased from $600 billion to $720 billion.The GDP deflator has risen by 10%.By what dollar amount has real output risen?

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Definitions:

Lots of Friends

Having a wide circle of acquaintances or companions with whom one shares a bond of mutual affection.

Preschoolers

Children who are in the age group typically ranging from 3 to 5 years old, just before they enter formal schooling.

Blended Families

Family units formed by the merging of two previously separate families into one, often involving parents with children from previous relationships.

Challenges

Difficulties or obstacles that require a solution or response, often serving as opportunities for growth or learning.