Suppose That Both Nominal GDP and Prices Double

question 144

Multiple Choice

Suppose that both nominal GDP and prices double. We can conclude that real output:

• A)more than doubled.
• B)doubled.
• C)remained constant.
• D)fell.

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Definitions:

Vicariously

Experiencing something through the actions or experiences of another person, rather than firsthand.

Reinforcing Outcomes

Consequences that increase the probability of a behavior being repeated by providing a reward or removing a negative stimulus.

Admirable

Deserving respect or approval for qualities such as integrity, bravery, or skill.

Observational Learning

A process of learning that occurs through observing the behavior of others, modeling that behavior, and then imitating it.