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:

Enhancing Qualitative

This term might refer to improving the quality of something, but without a specific context, it's too vague to define precisely.

Faithful Representation

A qualitative characteristic of financial information that insists on the data being complete, neutral, and free from material error.

Conceptual Framework

A set of coherent principles and ideas that guide the development, preparation, and interpretation of financial reports, ensuring consistency and comparability.