The Table Contains Data for a Hypothetical Single-Product Economy

question 107

Multiple Choice

$$\begin{array} { | c | c | c | c | } \hline \text { Year } & \text { Units of Output } & \text { Price of Bagel per Unit } & \text { Price Index } ( \text { Year } 1 = 100 ) \\\hline 1 & 10 & \$ 10 & 100 \\\hline 2 & 12 & 20 & 200 \\\hline 3 & 15 & 30 & 300 \\\hline 4 & 20 & 40 & 400 \\\hline\end{array}$$ The table contains data for a hypothetical single-product economy. Real GDP in year 4 is

• A) $320.
• B) $450.
• C) $200.
• D) $800.

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Definitions:

Correlation Designs

Research designs used to measure and analyze the relationships between two or more variables without implying causation.

Confirmatory Factor Analysis

A statistical technique used to validate the factor structure of a set of observed variables and to confirm prior hypotheses about their relationships.

Latent Variables

Variables that are not directly observed but are inferred from other variables that are measured directly in research.

Psychometric Properties

Characteristics that describe the quality of psychological tests or measurements, including reliability, validity, and factor structure.