If the Nominal GDP Is $12,000 in 2005 and $15,000

question 37

Multiple Choice

If the nominal GDP is $12,000 in 2005 and $15,000 in 2006,and if inflation is 10% between these years,then

• A)employment fell between 2005 and 2006.
• B)real GDP fell between 2005 and 2006.
• C)real GDP rose between 2005 and 2006.
• D)the economy experienced no growth between these years.
• E)everyone is rich now than they were before.

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Definitions:

Intelligence

The capacity for absorbing lessons from past encounters, addressing difficulties, and leveraging insight to adapt to fresh scenarios.

Charles Spearman

A psychologist known for his work in statistics and intelligence, including the theory of general intelligence (g factor).

General Intelligence

The theory suggesting the existence of a single, underlying intellectual capacity that influences performance across various cognitive tasks.

Mental Age

A measure of an individual's mental attainment based on the age at which it is normal to reach a certain level of mental development.