When Computing Economic Growth,changes in Nominal Gross Domestic Product (GDP)must

question 132

Multiple Choice

When computing economic growth,changes in nominal gross domestic product (GDP) must be adjusted to reflect changes in the price level because

• A) prices are nearly impossible to measure by government economists.
• B) an increase in prices will decrease nominal GDP without any actual economic growth.
• C) an increase in prices will increase nominal GDP without any actual economic growth.
• D) changes in prices are primarily determined by the government.
• E) changes in prices are largely irrelevant for consumers.

---

Definitions:

Denial of Responsibility

A defense mechanism whereby individuals reject accountability for their actions or the outcomes of those actions.

Terminal Values

Terminal values are the lifelong goals or objectives that an individual seeks to achieve, representing desired end states of existence.

Instrumental Values

Values that are means to achieving an end; they represent the behaviors and methods that are desirable in order to reach goals.

Social Responsibility Strategy

A plan or approach adopted by a business to contribute positively to society and address social issues through its operations, products, or services.