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Lopezj273 Lopezj273
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4 years ago

Question 1.

The GDP deflator in year 2 is 95 using year 1 as a base year. This means that, on average, the price of goods and services is



▸ 105% higher in year 2 than in year 1.

▸ 5% higher in year 2 than in year 1.

▸ 5% higher in year 1 than in year 2.

▸ 105% higher in year 1 than in year 2.

Question 2.

When GDP is measured in "current prices" it is known as the



▸ real GDP.

▸ nominal GDP.

▸ real GNP.

▸ nominal GNP.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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Antoinette12Antoinette12
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Lopezj273 Author
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4 years ago
Thanks
momochiime
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Yesterday
Thank you, thank you, thank you!
bahajo
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2 hours ago
This helped my grade so much Perfect
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