A GDP Deflator of 112 Means

question 25

Multiple Choice

A GDP deflator of 112 means:

• A) the overall price level is 12 percent higher than in the base year.
• B) the overall output increased by 12 percent since the base year.
• C) every price in the economy has gone up by 12 percent.
• D) the production of each good in the economy has increased by 12 percent.

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Definitions:

Sleepwalking

A sleep disorder that causes people to get up and walk around or perform other complex behaviors while still mostly asleep.

Convicted

Found guilty of a criminal offense by a court of law.

Arrested

The act of detaining a person, typically by legal authority, on suspicion of them having committed a criminal offense.

Crime

An act or omission in violation of a law prohibiting it and for which a punishment is imposed upon conviction.