Which of the Following Is True of Nominal GDP

question 16

Multiple Choice

Which of the following is true of nominal GDP?

• A)It acts as an indicator of the general price level in the economy.
• B)It measures the real level of output in the economy.
• C)It measures national output based on the current year's prices.
• D)It tends to rise by a smaller amount than real GDP when the general price level increases.
• E)It measures changes in the output of intermediate goods and services.

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Definitions:

Occipital Lobe

A region of the brain located at the back of the head, responsible for processing visual information from the eyes.

Somatic Nervous System

Part of the peripheral nervous system that handles voluntary movements and the transmission of sensory information to the central nervous system.

Autonomic

Referring to the autonomic nervous system, which controls involuntary body functions such as heartbeat, digestion, and breathing.

Sympathetic

Part of the autonomic nervous system responsible for the body's fight-or-flight response, regulating heart rate, blood pressure, and other involuntary body functions.