If Nominal GDP Increases by 4 Percent, Then

question 137

Multiple Choice

If nominal GDP increases by 4 percent, then

• A) real output has increased by 4 percent
• B) the price level has increased by 4 percent
• C) consumer spending must have increased by 4 percent
• D) it is possible that all of the increase was caused by an increase in the price level
• E) net exports increased by 4 percent

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Definitions:

Photosynthetic Organisms

Life forms that convert light energy into chemical energy via photosynthesis, producing oxygen and organic compounds from carbon dioxide and water.

Nonphotosynthetic Partners

Organisms that do not perform photosynthesis but are involved in symbiotic relationships with photosynthetic organisms, often exchanging nutrients.

Oxygen

A chemical element with symbol O and atomic number 8, essential for most life forms on Earth as part of the process of respiration.

Ecological Niche

Of a species, unique set of requirements and roles in an ecosystem.