Which of the Following Is True

question 27

Multiple Choice

Which of the following is true?

• A)The GDP gap is the difference between nominal GDP and real GDP.
• B)Economic growth is a difference between last year's CPI and this year's CPI.
• C)Economic growth is measured by the annual amount increase in a nation's real GDP.
• D)Discouraged workers are not fully accounted for in the unemployment rate.

---

Definitions:

Basic Question

In economics, refers to fundamental queries about how to allocate scarce resources to satisfy human wants.

Economy

The system of production, consumption, and distribution of goods and services within a geographical region.

Goods Produced

Refers to the total set of goods and services created within an economy at a given period of time.

Lemonade Stands

A small, informal business, often run by children, that sells lemonade to the public, typically during summer.