Which of the Following Is Correct If Real GDP Is

question 186

Multiple Choice

Which of the following is correct if real GDP is $20 trillion and spending is $20.5 trillion?

• A) Spending is greater than output by $0.5 trillion.
• B) Spending is lesser than output by $0.5 trillion.
• C) Spending is greater than output by $20.5 trillion.
• D) Spending is lesser than output by $20.5 trillion.
• E) Spending is equal to output.

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Definitions:

Eskimos' Vocabulary

A reference to the popular but debunked claim that Eskimo languages have an unusually large number of words for snow, illustrating linguistic relativity.

Linguistic Relativism

Theory suggesting that the language one speaks influences one's perception of reality and cognitive processes.

Bilingual

Characterizing someone who can fluently speak two languages.

Outcome Simulation

The mental process of imagining the outcome of a specific action or scenario, often used in decision-making or goal setting.