Changes in Nominal GDP

question 68

Multiple Choice

Changes in nominal GDP

• A) are due to changes in price only while changes in real GDP are attributed to movements in output and price.
• B) are due to changes in output and price while changes in real GDP are attributed to movements in output only.
• C) are due to changes in exchange rate while changes in real GDP are attributed to movements in price only.
• D) and changes in real GDP are due to changes in output and price.

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Definitions:

Principal

The amount of money borrowed or invested, separate from interest or profit generated from it.

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A law that governs the rights, responsibilities, and conduct of individuals engaged in a business partnership.

Joint Business Activities

Business operations in which two or more parties work together on a project or business venture sharing profits and losses.

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Ethnic groups considered to be the original inhabitants of a particular region, having distinct cultural, social, and political structures.