Author Question: In a given year, U.S. nominal GDP was 2,784 billion and the GDP chain price index for that year is ... (Read 43 times)

theo · **on:** Jun 30, 2018

In a given year, U.S. nominal GDP was 2,784 billion and the GDP chain price index for that year is 60.4 . Real GDP is:
a. 1,682 billion.
b. 4,609 billion.
c. 3,889 billion.
d. 4,000 billion.

Question 2

In the aggregate demand/aggregate supply model, a country's full-employment real GDP is represented by:
a. prices.
b. aggregate demand.
c. aggregate supply.
d. an increase in the general level of prices.