If in Some Year Nominal GDP Was $28 Trillion and Real

question 8

Multiple Choice

If in some year nominal GDP was $28 trillion and real GDP was $32 trillion,what was the GDP deflator?

• A)87.5.
• B)114.3.
• C)400.
• D)896.

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Definitions:

Economic Expansion

Describes a period when a country's economy grows due to factors like increased production, consumption, and investment, leading to higher GDP and improved living standards.

Environmental Sociologists

Specialists who study the interactions between societies and their environments, including the social factors that cause environmental problems and those affected by them.

Environmental Issues

Problems related to the environment such as pollution, climate change, and biodiversity loss that affect natural ecosystems and human societies.

Dominant Social Paradigm

The capitalist view supported by an ideology that legitimates the domination of nature for the material benefit of humans.