If Real Gross Domestic Product (GDP)in a Particular Year Is

question 32

Multiple Choice

If real gross domestic product (GDP) in a particular year is $5,000 trillion and nominal gross domestic product (GDP) in that same year is $4,000 trillion,then the:

• A)consumer price index (CPI)is 125.
• B)economic activity has decreased by 20 percent.
• C)GDP price index is 125.
• D)GDP price index is 80.
• E)economy has grown by 20 percent.

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Definitions:

Social Responsibility

The obligation of organizations to act in ways that benefit society at large, beyond their own interests.

Philanthropic Goodwill

The positive reputation and support a business gains through charitable acts, donations, and community service.

Mission Statement

A formal summary of the aims and values of a company, organization, or individual, often guiding its strategies and actions.

Utilitarianism

A philosophical theory that suggests actions are right if they are useful or for the benefit of a majority, focusing on the outcome or consequences of actions to determine their morality.