Refer to the Graph Above

question 107

Multiple Choice

Refer to the graph above. Which of the following statements is correct on the basis of the information shown?

• A) Real GDP must be deflated in each year after 2000 to determine nominal GDP
• B) Nominal GDP must be inflated in each year since 2000 to determine real GDP
• C) Nominal GDP must be deflated in each year before 2000 to determine real GDP
• D) Nominal GDP must be inflated in each year before 2000 to determine real GDP

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Definitions:

Federal Reserve District

One of the twelve regions established by the Federal Reserve Act, each with a Federal Reserve Bank, to regulate and oversee banking operations in the United States.

Routing Number

A unique nine-digit code used to identify a banking institution in the United States, essential for processing electronic transfers and checks.

Internal Control

A system of policies and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Employees Rotated

A process where employees are moved between different jobs or tasks to gain experience, reduce monotony, or improve workforce flexibility.