2011, Form B, Question 3 · 5 points
Nominal and real GDP, inflation and loans
Compute nominal and real GDP from a price and quantity table, find an inflation rate from two index values, decide how real wages move when wage growth trails inflation, and explain who gains from unexpected inflation on a fixed-rate loan.
This Form B exam had three free-response questions with 50 minutes of writing time after a 10 minute planning period, with a suggestion to spend about half the time on Question 1 and split the rest evenly between Questions 2 and 3. The current exam has 3 free-response questions in 60 minutes. The skills these questions practice still count.
Lessons this question draws on
1 Read the question
The question is College Board's, from the 2011, Form B exam. It starts on page 3 of the PDF. College Board no longer posts this exam, so it opens from the copy of College Board's PDF that the Internet Archive saved on May 20, 2025.
2 Write your answer
Answer each part the way you would on the exam, in full sentences, with your work shown. Your writing saves as you type.
3 Score it
Score your answer against College Board's scoring guidelines, one point at a time. Give yourself a point only when your answer says what the guideline asks for.
Scoring guidelines (PDF, page 5)
Question, scoring guidelines and Chief Reader report: College Board, from the Internet Archive. The title, summary are ours.