If Nominal Gross Domestic Product (GDP)changed by 6 Percent and the Price

question 111

Multiple Choice

If nominal gross domestic product (GDP) changed by 6 percent and the price level changed by 2 percent,then real GDP changed by

• A) 4 percent.
• B) 3 percent.
• C) 8 percent.
• D) 12 percent.
• E) 6 percent.

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Definitions:

Behavior

The actions or reactions of an organism or a system, usually in response to its environment.

Priming

A psychological process where exposure to a stimulus influences the response to a subsequent stimulus, often without conscious guidance or intention.

Act Fast

A directive encouraging immediate or swift action, often used in situations requiring urgent response.

Metaphor

A cognitive tool that allows people to understand an abstract concept in terms of a dissimilar, concrete concept.