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Q4. Suppose the European Union has a Nominal GDP of 20 trillion Euros, and their GDP deflator is 125. What is the European Union's Real

Q4. Suppose the European Union has a Nominal GDP of 20 trillion Euros, and their GDP deflator is 125. What is the European Union's Real GDP?

a.0.16 trillion Euros

b.25 trillion Euros

c.16 trillion Euros

Q5. Modern economic growth finds its roots in

a.technological progress and industrialization.

b.cultural factors.

c.democratic political systems.

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