If You Want to Investigate the Claim That More Goods

question 19

Multiple Choice

If you want to investigate the claim that more goods and services were produced in the economy during 2011 than 2012,what should you look at?

• A)real GDP
• B)nominal GDP
• C)intermediate GDP
• D)GDP calculated using the expenditure approach
• E)either B or D

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Definitions:

Industrialization

The process of transitioning from an agrarian society to one characterized by the extensive use of machinery in production processes.

International Development

A multidisciplinary field focused on improving the economic, political, and social quality of life for people in developing countries through various means, such as aid and education.

Dependency Theory

A theory that suggests developing countries are kept in a state of economic underdevelopment by the exploitative mechanisms of the global capitalist system.

World Systems Theorists

Scholars who argue that global socio-economic systems and relationships between countries shape individual societies, focusing on how historical and modern economic practices influence global inequality.