Historically, Real GDP Has Increased Less Rapidly Than Nominal GDP

question 130

Multiple Choice

Historically, real GDP has increased less rapidly than nominal GDP because

• A) price indices have not reflected improvements in product quality.
• B) the general price level has increased.
• C) technological progress has resulted in more efficient production.
• D) the general price level has decreased.

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Definitions:

Intellectual Abilities

The capacity to think, reason, problem solve, and adapt to new situations, often assessed through IQ tests and other evaluations.

Mental Retardation

Now more commonly referred to as intellectual disability, a term used to describe a condition characterized by significant limitations in both intellectual functioning and in adaptive behavior.

Giftedness

Describes individuals, often children, who demonstrate outstanding levels of aptitude or competence in one or more domains.

Triarchic Theory

A theory of intelligence that emphasizes three aspects of intelligent behavior: analytical, creative, and practical.