If Nominal GDP Is $10 Trillion and Real GDP Is

question 4

Multiple Choice

If nominal GDP is $10 trillion and real GDP is $8 trillion,then the GDP deflator is

• A)80,and this indicates that the price level has decreased by 20 percent since the base year.
• B)80,and this indicates that the price level has increased by 80 percent since the base year.
• C)125,and this indicates that the price level has increased by 25 percent since the base year.
• D)125,and this indicates that the price level has increased by 125 percent since the base year.

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Definitions:

European Diseases

Infectious diseases brought to the Americas and other regions by European explorers and colonizers, leading to significant indigenous population declines.

Poverty Rate

A statistical measure reflecting the percentage of the population whose income falls below the poverty line, taking into account the minimum level of income required for basic living standards.

Assimilation Perspective

A viewpoint that emphasizes the process through which individuals or groups from different cultures come to adopt the norms and values of another culture, often the dominant one.

Adversity

Difficulties or misfortunes faced by an individual or group.