If Nominal GDP Is $10 Trillion and Real GDP Is

question 16

Multiple Choice

If nominal GDP is $10 trillion and real GDP is $12 trillion,then the GDP deflator is

• A)83.33,and this indicates that the price level has decreased by 16.67 percent since the base year.
• B)83.33,and this indicates that the price level has increased by 83.33 percent since the base year.
• C)120,and this indicates that the price level has increased by 20 percent since the base year.
• D)120,and this indicates that the price level has increased by 120 percent since the base year.

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Definitions:

Formed Elements

The cellular components of blood, including red blood cells, white blood cells, and platelets, which differ from the liquid component, plasma.

Red Bone Marrow

A type of bone marrow that produces red blood cells, white blood cells, and platelets, found in the cavities of many bones.

Lymphocytes

A type of white blood cell that is part of the immune system, responsible for fighting infections.

Neutrophils

A type of white blood cell, pivotal in defending the body against bacterial infections.