188)Refer to Table 8-18.What is the GDP deflator in 2011 if 2016 is the base year?A) 187B) 87C) 8.7D) 0.87Answer: B188)Page Ref: 645/263Learning Outcome: Macro-3: Identify and interpret key macroeconomic measures.189) If the GDP deflator rises from 185 to 190, what is the rate of inflation between the two years?189)Page Ref: 645/263Learning Outcome: Macro-3: Identify and interpret key macroeconomic measures.40

190) If the GDP deflator is 142, by how much have prices changed since the base year?190)Page Ref: 645/263Learning Outcome: Macro-3: Identify and interpret key macroeconomic measures.191) An inflation rate of 5% between 2015 and 2016 would be implied by a change in the GDP deflatorfrom ________ in 2015 to ________ in 2016.191)Page Ref: 645/263Learning Outcome: Macro-3: Identify and interpret key macroeconomic measures.192) To make the calculation of real GDP more accurate, in 1996 the BEA switched to usingA) current prices.B) chain-weighted prices.C) base-year prices.D) market prices.Answer: B192)Page Ref: 644/262Learning Outcome: Macro-3: Identify and interpret key macroeconomic measures.193) When the BEA calculates real GDP using the average of prices in the current year and the yearpreceding it, and this average changes from year to year, this is called calculating GDP using193)Page Ref: 644/262Learning Outcome: Macro-3: Identify and interpret key macroeconomic measures.194) Which of the following is a true statement about real and nominal GDP?

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