If in Some Year Nominal GDP Was $18 Billion and the GDP

question 19

Multiple Choice

If in some year nominal GDP was $18 billion and the GDP deflator was 120,what was real GDP?

• A)$6.7 billion.
• B)$15 billion.
• C)$21.6 billion.
• D)$38 billion.

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Definitions:

Critical Survival Skills

Essential abilities or competencies required for individuals or organizations to effectively navigate challenges and sustain themselves in changing environments.

Renewal

The process of rejuvenating or updating something, which can involve strategies for growth, innovation, or recovering from decline.

Technology

The application of scientific knowledge for practical purposes, especially in industry, including machinery, equipment, methods, and software.