The Chart Below Shows the Gross Domestic Product for 7

question 70

Multiple Choice

The chart below shows the Gross Domestic Product for 7 nations. Which of the following statements
Can be determined from this chart?

• A) The GDP of the USA is approximately twice the size of each of the other countries.
• B) Germany's GDP is approximately half of that of Japan.
• C) Germany's GDP is approximately half of that of Canada.
• D) The GDP of the USA is larger than the total GDP of all the other 6 countries combined.

---

Definitions:

Demand for Nike Shoes

The consumer desire and willingness to purchase Nike brand footwear, influenced by factors like price, quality, and brand loyalty.

More Elastic

Describes a situation where the demand for a product or service is more sensitive to changes in price, meaning consumers are more likely to increase or decrease their quantity demanded in response to price changes.

Shoes in General

Footwear items designed to protect and provide comfort to human feet while offering varying degrees of style and fashion.

Own-price Elasticity

a measure of how much the quantity demanded of a good or service changes in response to a change in its price.