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Use the table below to answer the following questions. Nominal GDP Year (billions) GDP deflator 2000 600 100.0 2005 1,000 133.3 13) Between 2000 and 2005, the general level of prices increased by approximately 16.7 percent. а. b. 33.3 percent. 66.7 percent. с. d. 133.3 percent.

Use the table below to answer the following questions. Nominal GDP Year (billions) GDP deflator 2000 600 100.0 2005 1,000 133.3 13) Between 2000 and 2005, the general level of prices increased by approximately 16.7 percent. а. b. 33.3 percent. 66.7 percent. с. d. 133.3 percent.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 20CTQ: U.S. macroeconomic data are among the best in the world. Given what you learned in the Clear It Up...
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Use the table below to answer the following questions. Nominal GDP (billions) 600 Year GDP deflator 2000 100.0 2005 1,000 133.3 13) Between 2000 and 2005, the general level of prices increased by approximately 16.7 percent. 33.3 percent. 66.7 рercent. 133.3 percent. а. b. с. d. 14) Measured in terms of 2000 prices, real GDP in 2005 was а. 600. b. 750. 900. с. d. 1,333.
Transcribed Image Text:Use the table below to answer the following questions. Nominal GDP (billions) 600 Year GDP deflator 2000 100.0 2005 1,000 133.3 13) Between 2000 and 2005, the general level of prices increased by approximately 16.7 percent. 33.3 percent. 66.7 рercent. 133.3 percent. а. b. с. d. 14) Measured in terms of 2000 prices, real GDP in 2005 was а. 600. b. 750. 900. с. d. 1,333.
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