If Output of Each Good or Service Doubles and All

question 132

True/False

If output of each good or service doubles and all prices remain the unchanged, nominal GDP doubles.

---

Definitions:

Innate Modules

Cognitive structures in the brain, believed to be pre-wired from birth, that help individuals process information in specific domains such as language and social interaction.

Reasoning Skills

The cognitive abilities that enable individuals to analyze information, solve problems, and make logical decisions.

Short-term Memory

The part of the memory system where small amounts of information can be stored for a brief period of time.

Information-processing Theorists

Researchers who study how human beings take in, utilize, store, and retrieve information, emphasizing the mental processes involved in cognitive development.