If Real GDP Increased by 3 Percent, What Other Factor

question 48

Multiple Choice

If real GDP increased by 3 percent, what other factor also increased by 3 percent?  

• A) real output 
• B) the price level 
• C) consumer spending 
• D) government spending

---

Definitions:

Ticket Scalping

The practice of buying tickets to an event and reselling them at a higher price, often to profit from high demand and limited supply.

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service, often meant to protect consumers.

Invisible Hand

A metaphor introduced by Adam Smith to describe how an individual's pursuit of self-interest can lead to good results for society as a whole through the workings of competitive markets.

Economic Well-Being

A measure of the economic quality of life that includes factors like income, employment, class disparity, and economic security.