Q10 Refer to the data below and using year 1 as the base year, the real GDP in year 4 was approximately:10Year123Nominal GDP$3,166$3,402$3,774$3,989Price Index100104108112Multiple Choice$3,562 billion.O $3,989 billion.$3,774 billion.$3,494 billion.

Real GDP is the value of goods adjusted for inflation Real GDP = Nominal GDP *100 / Price index

Refer to the data below and using year 1 as the base year, the real GDP in year 4 was approximately: Nominal GDP $3,166 $3,402 $3,774 $3,989 Year Price Index 100 1 2 104 108 112 14 Multiple Choice $3,562 billion. $3,989 billion. $3,774 billion. $3,494 billion.

Refer to the data below and using year 1 as the base year, the real GDP in year 4 was approximately: Nominal GDP $3,166 $3,402 $3,774 $3,989 Year Price Index 100 1 2 104 108 112 14 Multiple Choice $3,562 billion. $3,989 billion. $3,774 billion. $3,494 billion.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Measuring A Nation's Income

Section: Chapter Questions

Problem 6QR

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Question

Q10

Refer to the data below and using year 1 as the base year, the real GDP in year 4 was approximately:
10
Year
1
2
3
Nominal GDP
$3,166
$3,402
$3,774
$3,989
Price Index
100
104
108
112
Multiple Choice
$3,562 billion.
O $3,989 billion.
$3,774 billion.
$3,494 billion.

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