Assume That the Nominal GDP for a Given Year Is

question 51

Multiple Choice

Assume that the nominal GDP for a given year is equal to $12,400 billion and the GDP deflator equals 112. Real GDP for that year is approximately

• A) $13,888.0 billion.
• B) $12,512.0 billion.
• C) $11,071.4 billion.
• D) $12,228.1 billion.

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Definitions:

Dominant Strategy

A strategy in game theory that yields the best outcome for a player regardless of what strategies other players choose.

Nash Equilibria

A situation in a non-cooperative game where no player can benefit by changing strategies, assuming the other players also don't change their strategies.

Maximin Strategy

A decision rule in game theory that aims to maximize the minimum gain possible from a set of strategies.

Dominant Strategy

In game theory, a strategy that is best for a player, regardless of the strategies chosen by other players.