The Relationship Between Real GDP and Nominal GDP Can Be

question 63

Multiple Choice

The relationship between real GDP and nominal GDP can be expressed by:

• A)real GDP = nominal GDP + inflation.
• B)percent change in real GDP = percent change in nominal GDP - inflation.
• C)real GDP = nominal GDP - inflation.
• D)Real GDP = nominal GDP + inflation.

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Definitions:

Nominal

Pertaining to data that consist of names, labels, or categories without a natural order or ranking.

Dependent Variable

The variable in an experimental or observational study that is influenced or changed by the independent variable.

Type of Wine Preferred

Individual preference regarding different categories or varieties of wine, often investigated in marketing research and sensory analysis.

Dependent Variable

A variable in experimental and observational research that is assumed to depend on or be caused by another variable (the independent variable).