Multiple Choice
If nominal GDP increased from $5,000 billion in 2003 to $5,500 billion in 2004 and the GDP deflator increased from 130 to 140 over the same time period, what would the 2004 real GDP equal expressed in terms of 2003 dollars?
A) $4,643 billion
B) $5,107 billion
C) $5,385 billion
D) $5,500 billion
E) $5,923 billion
Correct Answer:
Verified
Correct Answer:
Verified
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