Suppose Nominal GDP in 2011 Increased by 5% (Over Its

question 28

Multiple Choice

Suppose nominal GDP in 2011 increased by 5% (over its previous level in 2010) . Given this information, we know with certainty that:

• A) real GDP increased during 2010.
• B) either the price level or real GDP increased during 2010.
• C) both the price level and real GDP increased during 2010.
• D) the price level increased during 2010.
• E) more information is needed to answer this question.

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Definitions:

Ingratiation

A psychological tactic involving the use of flattery or other forms of manipulation to make oneself more likable or acceptable to another.

Unimportant Assignments

These are tasks or projects deemed to have little value or priority in the context of broader goals or objectives.

Strong Performer

An individual or entity that consistently achieves or exceeds performance expectations in a given area.

Fundamental Attribution Error

A bias in social psychology where people tend to attribute others' actions to their character or personality, while attributing their own behaviors to external factors.