An Increase in Nominal GDP

question 44

Multiple Choice

An increase in nominal GDP

• A) is absolute real economic growth.
• B) is per capita real economic growth.
• C) is both per capita and absolute real economic growth.
• D) does not necessarily mean either absolute or per capita real economic growth.

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Definitions:

Pre-Columbian Americas

Describes the history and cultures of the Americas before the arrival of Christopher Columbus in 1492, including the advanced civilizations such as the Aztecs and Incas.

Warfare

The engagement in or the activities involved in war or conflict, including the use of armed forces and weaponry to achieve political or military objectives.

Prevailing Winds

Winds that blow predominantly from a single general direction over a particular point on the Earth's surface.

European Trade

The exchange of goods, services, and capital between countries within Europe, as well as between Europe and other parts of the world, which has historically played a significant role in the global economy.