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

---

Definitions:

Workable Opposite

An approach that involves identifying and implementing an effective alternative strategy or solution that is distinct yet viable compared to the current method.

Brand Position

describes the unique space a brand occupies in the minds of consumers, differentiated by its products, features, and benefits from its competitors.

Influences

refers to the factors or forces that affect the decisions, behaviors, or development of individuals or organizations.

Brand Assets

Constitutes the valuable elements of a brand, such as trademarks, brand name, and customer loyalty, that contribute to its overall equity.