Nominal GDP

question 107

Multiple Choice

Nominal GDP

• A) has been adjusted for changes in the general price level.
• B) measures the real level of output in the economy.
• C) measures national output on the basis of the current year's prices.
• D) tends to rise by a smaller amount than real GDP when the general price level increases.
• E) measures changes in the output of intermediate goods and services.

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Definitions:

Rpm

Stands for revolutions per minute, a measure of the frequency of rotation, specifically the number of rotations around a fixed axis in one minute.

Load

The amount of electrical power or physical weight that is applied or carried by a system or component.

Spool Valves

Mechanical devices used in hydraulic and pneumatic systems to control the flow of fluid or air, typically by moving a cylindrical spool within a housing to open or close channels.

Hydraulically

Pertaining to or involving the movement or operation of devices through the pressure of liquids in motion.