A National News Source Reports the Nominal Gross Domestic Product

question 125

Multiple Choice

A national news source reports the nominal gross domestic product (GDP) grew 6 percent in the last year. However, inflation was 4 percent. What was the real GDP growth?

• A) 1 percent
• B) 2 percent
• C) 6 percent
• D) 10 percent
• E) 8 percent

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Definitions:

Simple Mistakes

Errors or oversights that are easy to make and often due to carelessness or lack of attention.

Losing Opportunity

The situation where a chance for advancement, success, or profit is missed or not taken advantage of.

Interview

A formal meeting, usually face-to-face, where one person asks questions, and the other provides answers, often used for research or employment selection.

CV

Curriculum Vitae, a detailed document highlighting an individual's professional and academic history.