The Inflation-Adjusted Measure of Aggregate Output Typically Used by Economists

question 76

Multiple Choice

The inflation-adjusted measure of aggregate output typically used by economists is called:

• A) aggregate output.
• B) nominal gross national product.
• C) net domestic product.
• D) real gross domestic product.

---

Definitions:

Promissory Estoppel

A legal concept that bars a person from canceling a promise made to someone else if that individual has sensibly relied on the promise to their misfortune.

Contract

A contract between two or more parties that is recognized and enforceable under the law.

Consideration

Something of value that is exchanged between parties in a contract, making the agreement legally binding.

Extra Vacation Week

An additional week of vacation granted beyond the standard allocated time, often as a benefit or reward.