Answered: In 1958, nominal GDP was 482 while real…

In 1958, nominal GDP was 482 while real GDP was 2,853.3. Approximately what would the GDP deflator be for 1958? Group of answer choices a) 23.7 b) 103.9 c) 16.9 d) 2.04 e) None of the other options.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In 1958, nominal GDP was 482 while real GDP was 2,853.3. Approximately what would the GDP deflator be for 1958?

Group of answer choices

a) 23.7

b) 103.9

c) 16.9

d) 2.04

e) None of the other options.

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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