The Fact That Nominal GDP Has Risen Faster Than Real

question 238

Multiple Choice

The fact that nominal GDP has risen faster than real GDP

• A) suggests that the base year of the GDP price index has been shifted.
• B) tells us nothing about what has happened to the price level.
• C) suggests that the general price level has fallen.
• D) suggests that the general price level has risen.

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Definitions:

Imaging

A technique used to visualize the internal structures of the body for diagnostic purposes.

Divergent Thinking

A thought process used to generate creative ideas by exploring many possible solutions.

Availability Heuristic

An instinctive heuristic that uses the readily accessible instances that occur to someone as they assess a distinct theme, notion, strategy, or judgement.

Unusual Uses Test

An assessment of creativity that asks individuals to list as many uses as possible for a common object within a given time frame.