Consider the Following Data That Gives the Quantity Produced and Unit

question 65

Multiple Choice

Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the next five questions: Assume that the base year is 2012.

-Real GDP increases if:

• A) current prices increase.
• B) current quantities increase.
• C) current prices are constant.
• D) nominal GDP increases.
• E) nominal GDP decreases.

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Definitions:

Superego

In Freudian psychoanalysis, the part of the personality that acts as a moral center, imposing the morals and standards learned from parents and society.

Phenylketonuria

A genetic disorder characterized by an inability to metabolize the amino acid phenylalanine, leading to its accumulation and potentially severe neurological damage if untreated.

Huntington Disease

Hereditary disease characterized by chorea (ceaseless involuntary jerky movements) and progressive dementia, ending in death.

Tay-Sachs Disease

Inherited birth defect caused by the loss of genes that encode the enzyme necessary for breaking down certain fatty substances; appears 4 to 6 months after birth and results in intellectual disability, physical changes, and death by about age 5.