Suppose Nominal GDP Was $360 Billion in 2002 and $450

question 39

Multiple Choice

Suppose nominal GDP was $360 billion in 2002 and $450 billion in 2012.The appropriate price index was 100 in 2002 and 120 in 2012.It can be concluded that between 2002 and 2012 real GDP:

• A) increased by about $15 billion.
• B) decreased by about $32 billion.
• C) increased by about $90 billion.
• D) increased by about $117 billion.

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Definitions:

Beneficial

Producing good results or having a positive effect.

Demographic Segmentation

The process of dividing a market into segments based on variables such as age, gender, income, education, and family size for targeted marketing.

Psychographic Segmentation

The process of dividing markets into segments based on consumer lifestyle, personality traits, values, opinions, and interests.

Financial Planner

A professional who helps individuals and organizations create strategies for managing their finances, including investments, budgets, savings, and retirement planning.