Assume the Table Has Recorded the Total Output and Prices

question 117

Multiple Choice

Assume the table has recorded the total output and prices of the only two goods produced. Looking at the figures in the table and using them to construct the GDP deflator, we can note the GDP deflator in 2003 was:

• A) 135
• B) 74
• C) 109
• D) 105

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Definitions:

Cognitive Development

The process by which individuals acquire the ability to think, learn, reason, and remember over time, often associated with childhood development.

Sensorimotor

Referring to a developmental stage in infants where they learn about the world through sensory experiences and motor activities.

Preoperational

A stage in Jean Piaget's theory of cognitive development where children from about 2 to 7 years old engage in symbolic play but struggle with logic and understanding the perspective of others.

Conservation

The act of preserving, protecting, or restoring the natural environment, natural ecosystems, vegetation, and wildlife to prevent depletion or destruction.