A Korean Company Produces Biscuits in Australia and Exports All

question 35

Multiple Choice

A Korean company produces biscuits in Australia and exports all of them to Russia.If the price of the biscuits increases, then:

• A)the GDP deflator and the CPI both increase
• B)the GDP deflator increases and the CPI is unchanged
• C)the GDP deflator is unchanged and the CPI increases
• D)the GDP deflator and the CPI are unchanged

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Definitions:

High Need To Achieve

A psychological trait characterized by a strong desire to accomplish tasks and meet high standards of performance.

Entrepreneurial Personality

A set of personality traits or characteristics that are commonly found in successful entrepreneurs, such as risk-taking, creativity, and resilience.

Need To Achieve

The personal quality, linked to entrepreneurship, of being motivated to excel and choose situations in which success is likely.

Entrepreneurship

The act of creating, managing, and building a business venture to make a profit while taking on financial risks.