The GDP Deflator in Year 2 Is 110 Using Year

question 29

Multiple Choice

The GDP deflator in year 2 is 110 using year 1 as a base year. This means that, on average, the price of goods and services is

• A) 110% higher in year 2 than in year 1.
• B) 10% higher in year 2 than in year 1.
• C) 5% higher in year 1 than in year 2.
• D) 110% higher in year 1 than in year 2.

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