At 2017 Prices, the Value of Production in 2018 Was

question 148

Multiple Choice

At 2017 prices, the value of production in 2018 was 6 percentage points higher than in 2017. At 2018 prices, the value of production in 2018 was 4 percentage points higher than in 2017. Using the chain-weighted output index, real GDP is ________ in 2018 than in 2017.

• A) 10 percent greater
• B) 5 percent greater
• C) 7.5 percent greater
• D) 4 percent smaller

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Definitions:

Compensatory Order

A compensatory order is a legal direction to pay restitution, typically in civil litigation, designed to cover the loss or injury suffered by a plaintiff.

Equitable Remedies

Legal solutions given by a court based on fairness rather than strictly on laws, such as injunctions or specific performance.

Injunction

A court order requiring an individual or entity to do or cease doing a specific action.

Consequential Damages

Consequential damages refer to losses or harm that do not directly stem from a party’s actions but are a secondary result of those actions.