If nomiņal GDP is 10trillion and real GDP is 12trillion then the GDP deflator is: O 120, indicating that the price level has increased by 20% since the base year. O 83.33, indicating that the price level has increased by 83.33% since the base year. O 120, indicating that the price level has decreased by 20% since the base year. O 83.33, indicating that the price level has decreased by 16.67% since the base year.

If nomiņal GDP is 10trillion and real GDP is 12trillion then the GDP deflator is: O 120, indicating that the price level has increased by 20% since the base year. O 83.33, indicating that the price level has increased by 83.33% since the base year. O 120, indicating that the price level has decreased by 20% since the base year. O 83.33, indicating that the price level has decreased by 16.67% since the base year.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 18P

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