Table 5-4 Shows Price and Output Data for an Economy

question 98

Multiple Choice

Table 5-4 shows price and output data for an economy. Assume that 1994 is the base period. Use the table to answer questions .
Table 5-4

-Refer to Table 5-4. In _____, nominal GDP increased over the previous year due to an increase in output and not due to a change in prices.

• A) 1996
• B) 1999
• C) 1998
• D) 1995 and 1999

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Definitions:

Financial Data

Quantitative information pertaining to financial transactions, including revenues, expenses, profitability, and market performance.

Lowest Profit

This refers to the minimum amount of financial gain realized from business operations, investments, or other revenue-generating activities during a specific period.

Financial Data

Quantitative information pertaining to the financial health, performance, and transactions of an individual or organization.

Net Profit

The amount of money that remains from revenues after accounting for all costs and expenses, indicating the financial profitability of a business.