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

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Definitions:

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable. This can happen due to factors like market inefficiencies, taxes, or subsidies.

Corporation's Owners

Individuals or entities that hold shares of stock in a corporation, giving them ownership rights and interest in the company's profitability and governance.

Tax Collector

An official or entity responsible for collecting taxes on behalf of a government.

Laissez-faire Leader

A leadership style characterized by minimal direct supervision, allowing team members significant freedom in how they accomplish their work.