-Refer to Table 5-2

question 106

Multiple Choice

-Refer to Table 5-2. What is the nominal GDP for 2018?

• A) $900
• B) $1000
• C) $1100
• D) $1250

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Definitions:

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Profits

Financial gains obtained after subtracting total expenses from total revenue, from business operations or other investments.

Defensive Driving

Practice of using driving strategies that minimize risks and potential for accidents by anticipating dangerous situations.

Interest Rate

is the cost of borrowing money, expressed as a percentage of the principal, that lenders charge borrowers or the rate earned on deposits.