When Economists Speak of Changes in GDP Measured in Constant

question 127

Multiple Choice

When economists speak of changes in GDP measured in constant dollars, they mean that

• A) money GDP is constant.
• B) the price level is constant.
• C) a price index has been used to adjust money GDP for the effects of inflation.
• D) the growth rate of money GDP has been adjusted for changes in population.

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Definitions:

Moral Intuitions

Judgments (about whether an action is right or wrong) that occur automatically and rely on emotional feelings.

Cooperation

Working together with someone for mutual or reciprocal benefit.

Reciprocity

A social norm that involves mutual exchange of privileges, goods, services, or favors between individuals or groups.

Altruism

Selfless concern for the well-being of others, often leading to actions benefitting someone other than oneself.