Choose the one alternative that best completes the statement or answer
EC 2123 (L2 ) Problem Set 1 Due IN CLASS on September 2 6 , 201 1 Name: Student ID: Tutorial Session: 1 MULTIPLE CHOICE QUESTIONS: Choose the one alternative that best completes the statement or answers the question. 1. Use the definition of GDP deflator t ha t y ou l e a r nt in class to answer this question. If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is approximately equal to: a. - 10% b.