If in Some Year Real GDP Was $5 Trillion and the GDP

question 33

Multiple Choice

If in some year real GDP was $5 trillion and the GDP deflator was 200,what was nominal GDP?

• A)$2.5 trillion.
• B)$10 trillion.
• C)$40 trillion.
• D)$100 trillion.

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Definitions:

Z-score

A statistical measure representing the number of standard deviations a data point is from the mean of the dataset, often used in standardizing scores.

Chi-square Test

A statistical procedure employed to evaluate whether a significant correlation exists between two variables that are categorical.

Minimum

The smallest or least amount allowable or possible in a given set of circumstances.

Maximum

The largest value in a given set of numbers or data points.