Which of the Following Is a True Statement About Real

question 214

Multiple Choice

Which of the following is a true statement about real and nominal GDP?

• A)If nominal GDP increases from one year to the next,we know that production of goods and services has risen.
• B)Nominal GDP is a better measure than real GDP in comparing changes in the production of goods and service year after year.
• C)Increases in average prices do not affect the calculation of nominal GDP.
• D)If real GDP increases from one year to the next,we know that production of goods and services has risen.

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Definitions:

Public Sector

The part of the economy composed of both public services and public enterprises, owned and operated by the government.

Information Economy

A system where information is the primary commodity and the main driver of economic activity, influencing how goods and services are generated, exchanged, and valued.

Robin Leidner

A sociologist known for her work on labor, service work, and the ways in which jobs are structured and experienced.

Real Selves

Refers to the authentic and genuine aspects of an individual's personality or identity, as opposed to roles or personas adopted for social conformity.