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13-12-2022
Business

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Assume that between 1998 and 2008, nominal GDP increased from $7 trillion to $12 trillion and that the price index rose from 100 to 133.3. Which of the following expresses GDP for 2008 in terms of 1998 prices? a. $7.5 trillion b. $9.0 trillion c. $9.5 trillion d. $16.0 trillion

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