Assume the Table Shown Displays the Total Output and Prices

question 100

Multiple Choice

Assume the table shown displays the total output and prices of the only two goods produced in a small economy. Looking at the changes in real GDP and nominal GDP from 2017 to 2018, because real and nominal GDP increased at the same rate, we can conclude that:

• A) there was no change in prices, only output.
• B) prices increased
• C) only the production of footballs increased.
• D) there was no change in output, only prices.

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Definitions:

Altruistic Leader

A leader who prioritizes selflessly the well-being and interests of others above their own, often inspiring loyalty and high morale among followers.

Greatest Good

A principle aimed at achieving the highest level of benefit or welfare for the greatest number of people, often considered in ethical decision-making.

Ethical Approach

A method or strategy for decision-making that prioritizes ethical principles and values, often emphasizing morality, fairness, and justice.

Leadership

The act of guiding or influencing a group towards achieving a common goal through inspiration, strategy, and direction.