1. Fill in the blank. The real GDP for a given year values current year output...

1. Fill in the blank. The real GDP for a given year values current year output at _____ year prices.

Group of answer choices

base

current

2. Which of the following values for the GDP deflator would imply that the price level is higher in the current year than in the base year?

110

100

3. Which of the following values for the GDP deflator would imply that the price level in the current year equals the price level in the base year?

110

100

Solutions

Expert Solution

Rahul Sunny answered 1 year ago

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