Growth Means Change,and _____ Change Is Required in a _____

question 21

Multiple Choice

Growth means change,and _____ change is required in a _____ business environment.

• A) proactive, dynamic
• B) reactive, dynamic
• C) proactive, stable
• D) reactive, uncertain

Recognize the limitations of GDP as an all-encompassing measure of economic progress and quality of life.

Interpret the circular flow diagram, and understand the role of expenditure and income in the economy.

Learn how GDP is calculated, including understanding the components of GDP.

Distinguish between nominal and real GDP, and how to adjust for inflation.

---

Definitions:

Retrieval Failure

Not remembering something one is certain of knowing.

Retroactive Interference

A phenomenon where newly acquired information interferes with the retrieval of older information.

Proactive Interference

A phenomenon where older memories interfere with the recall of newer memories, often affecting the learning process.

Cue-dependent Forgetting

A phenomenon where information is not remembered unless the context present at encoding is also present at recall.