Which of the Following Can the GDP Deflator Be Used

question 51

Multiple Choice

Which of the following can the GDP deflator be used to identify?

• A)the increase in nominal GDP that is due to an increase in prices rather than an increase in production
• B)the increase in real GDP that is due to an increase in prices rather than an increase in production
• C)the increase in the cost of living for typical Canadian consumers
• D)the reduction in government spending required to balance the federal budget

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Definitions:

Placebo

A substance or treatment with no therapeutic effect, often used as a control in testing new drugs.

Nocebo

A detrimental health effect resulting from the negative expectations of the patient towards a treatment or medication.

Dependent Variable

In an experiment or clinical trial, the variable that represents the effect or outcome of interest.

Physical Age

A measure of how old a person is in years, as opposed to biological or psychological age, which may differ based on health or mental state.