If Nominal GDP Increased from $5,000 Billion in 2010 to $5,500

question 68

Multiple Choice

If nominal GDP increased from $5,000 billion in 2010 to $5,500 billion in 2011 and the GDP deflator increased from 130 to 140 over the same time period, what would the 2011 real GDP equal expressed in terms of 2010 dollars?

• A)​$4,643 billion
• B)​$5,107 billion
• C)​$5,385 billion
• D)​$5,500 billion

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Definitions:

Maximum Level

The highest allowable or achievable level within a specified context.

Half-life

The period required for the concentration or amount of a particular substance to decrease by half, applied in various contexts such as radioactive decay and pharmacokinetics.

Radioactive Isotope

An isotope of an element that spontaneously undergoes decay, releasing ionizing radiation in the process.

Storage Vial

A small container used for storing liquid samples, often used in scientific laboratories to hold samples securely.