Table 5-4 the Table Below Reports Nominal and Real GDP for the for the U.S

question 326

Multiple Choice

Table 5-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.

-Refer to Table 5-3. What is the GDP deflator and the inflation rate for 1931?

• A) 9.16, -11.5
• B) 9.16, -10.3
• C) 1091.37, 10.3
• D) 1091.37, 11.5

---

Definitions:

Own-Price Elasticity

A measure of the responsiveness of the demand for a good to a change in its own price.

Lipitor

A pharmaceutical drug used to lower cholesterol and reduce the risk of heart disease.

Few Substitutes

A market condition where there are limited alternative products or services available to consumers.

Nike

an American multinational corporation known for designing, manufacturing, and selling athletic footwear, apparel, and equipment.