QUESTION 6Refer to the accompanying data, using year 1 as the base year. All dollars are in billions. Real GDP increased from year 3 to year 4 by approximatelyYearNominal GDPPrice Index1$3,1661003,40210433,7741083,989112a. $68 billion.Ob. $98 billion.O C. $215 billionOd.$75 billion

* SOLUTION :- * The OPTION A ($ 68 billion) is correct answer. * Explanation :-

QUESTION 6 Refer to the accompanying data, using year 1 as the base year, All dollars are in billions. Real GDP increased from year 3 to year 4 by approximately 首 Year Nominal GDP Price Index 1 $3,166 100 3,402 104 3 3,774 108 4 3,989 112 O a. $68 billion. O b. $98 billion. OC. $215 billion. 4d. S75 billion

QUESTION 6 Refer to the accompanying data, using year 1 as the base year, All dollars are in billions. Real GDP increased from year 3 to year 4 by approximately 首 Year Nominal GDP Price Index 1 $3,166 100 3,402 104 3 3,774 108 4 3,989 112 O a. $68 billion. O b. $98 billion. OC. $215 billion. 4d. S75 billion

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 1P

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