Question

quiz instructions
there are about 90 multiple choice questions and some short essay questions at the end. you have 140 minutes to complete the exam. once you start you cannot stop and come back to the exam.
if the answer says: \all of the above,\ it means all of the answers listed, not just the ones above that answer.
if the answer says:
one of the above,\ it means none of the answers listed here, not just the ones above that answer.

question 2
2 pts
nominal gdp is $36 trillion and real gdp is $14 trillion, calculate the gdp deflator. answer to 2 decimal places.

Explanation:

Step1: Recall GDP deflator formula

The GDP deflator is calculated as $\text{GDP Deflator} = \frac{\text{Nominal GDP}}{\text{Real GDP}} \times 100$

Step2: Plug in given values

Substitute Nominal GDP = $36$ trillion, Real GDP = $14$ trillion:
$\text{GDP Deflator} = \frac{36}{14} \times 100$

Step3: Compute and round to 2 decimals

First calculate $\frac{36}{14} \approx 2.5714$, then multiply by 100: $2.5714 \times 100 = 257.14$

Answer:

257.14