Questions 5 through 8 use the following hypothetical information. Year

Questions 5 through 8 use the following hypothetical information. Year Nominal GDP CPI (2000 = 100) Real GDP in 2000dollars 2014 60002015 6500 52002016 53305. The inflation rate between 2015 and 2016 is(a) 4 percent(b) 8 percent(c) 10 percent(d) 15 percent6. Nominal GDP in 2016 is roughly(a) 3948.1(b) 4814.8(c) 6662.5(d) 7195.57. Real GDP in year 2014 in 2016 dollarsis(a) 5000(b) 5625(c) 6750(d) 81008. Suppose a gallon of gas costs $2.00 in 2000, $2.35 in 2014, $2.50 in 2015 and $2.75 in 2016. In what year is a gallon of gas cheapest in real terms?(a) 2000(b) 2014(c) 2015(d) 2016

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Questions 5 through 8 use the following hypothetical information. Year

Questions 5 through 8 use the following hypothetical information. Year Nominal GDP CPI (2000 = 100) Real GDP in 2000dollars 2014 60002015 6500 52002016 53305. The inflation rate between 2015 and 2016 is(a) 4 percent(b) 8 percent(c) 10 percent(d) 15 percent6. Nominal GDP in 2016 is roughly(a) 3948.1(b) 4814.8(c) 6662.5(d) 7195.57. Real GDP in year 2014 in 2016 dollarsis(a) 5000(b) 5625(c) 6750(d) 81008. Suppose a gallon of gas costs $2.00 in 2000, $2.35 in 2014, $2.50 in 2015 and $2.75 in 2016. In what year is a gallon of gas cheapest in real terms?(a) 2000(b) 2014(c) 2015(d) 2016

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