If Nominal GDP for a Particular Year Is $4 Trillion

question 132

True/False

If nominal GDP for a particular year is $4 trillion and real GDP for that year is $3 trillion,then the GDP price index is 133.

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Definitions:

Management

Management involves the planning, organizing, leading, and controlling of an organization's resources to achieve specific objectives.

Common Goals

Objectives shared by a group of people, aiming to achieve a mutual outcome or interest.

Income Going

The flow of earnings or revenue generated from economic activities or investments over a given period.

Labor Force

The total number of people available for work, including both the employed and those actively seeking employment.