Which of the Following Variables Is Used to Measure Economic

question 21

Multiple Choice

Which of the following variables is used to measure economic growth?

• A) nominal GDP
• B) nominal GDP per capita
• C) real GDP
• D) real GDP per capita

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Definitions:

Agents

Individuals or entities authorized to act on behalf of another person or entity in legal or business matters.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.

Principal

In a legal context, the principal is the party who grants authority to an agent to act on their behalf in legal or financial matters.

Apparent Authority

A situation where someone appears to have the power to act on behalf of another (such as an employer), even if they do not have actual authority.