Which of the Following Is True

question 119

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 needed because it reduces the nation's standard of living.
• C) Economic growth is measured by the annual percentage increase in a nation's real GDP.
• D) Economic growth is required to reduce the value of net exports.

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Definitions:

Price-elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in its price.

Digital Media

A form of media that uses digital technology for distribution and presentation of content.

iPads

A line of tablet computers designed and marketed by Apple Inc., which run the iOS and iPadOS mobile operating systems.

Laptop

A portable personal computer with a screen and keyboard, designed for mobile use and small enough to rest on the user's lap.