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If in the same period output doubles and the price level remains the same, nominal GDP doubles.

banggedung

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If in the same period output doubles and the price level remains the same, nominal GDP doubles.

Question 1.

The GDP deflator in year 3 is 135 using year 1 as a base year. This means that, on average, the price of goods and services is

▸ 135% higher in year 3 than in year 1.

▸ 17.5% higher in year 3 than in year 1.

▸ 35% higher in year 3 than in year 1.

▸ 17.5% higher in year 1 than in year 3.

Question 2.

If in the same period output doubles and the price level remains the same, nominal GDP doubles.

▸ true

▸ false

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 138 times

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gdchavis1

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5 years ago

More solutions for this book are available here

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banggedung Author

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5 years ago

Thanks

rudy.zondo

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Helped a lot

karamsidhu1

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2 hours ago

I appreciate what you did here, answered it right Smiling Face with Open Mouth

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