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banggedung banggedung
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4 years ago

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

Principles of Economics


Edition: 12th
Authors:
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gdchavis1gdchavis1
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4 years ago
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