If Nominal GDP Increased by 5 Percent and the GDP

question 75

Multiple Choice

If nominal GDP increased by 5 percent and the GDP deflator increased by 3 percent, then real GDP ______ by ______ percent.

• A) increased; 2
• B) decreased; 2
• C) increased; 8
• D) decreased; 8

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Definitions:

Client-centered

An approach that prioritizes the needs, preferences, and autonomy of the individual receiving services or care.

Self-determination

The right of individuals to make their own choices and control their own lives, particularly in the context of personal goals and values.

Relabeling

involves assigning a new label or title to something, often to change its perceived meaning or significance.

Reframing

A psychological technique involving changing the way a situation or thought is viewed to alter its emotional impact.