The Creation of a New Product Is Called

question 32

Multiple Choice

The creation of a new product is called

• A)process innovation.
• B)a rise in productivity.
• C)creative destruction.
• D)investment.
• E)product innovation.

---

Definitions:

Population

The total number of people inhabiting a particular territory or geographic area.

GDP Deflator

An economic metric that converts the money-value measure of GDP to a measure of real GDP by accounting for inflation or deflation.

GDP Deflator

A measure that reflects the prices of all goods and services produced domestically, accounting for inflation within a country's economy.

Base Year

A reference year against which economic growth, price changes, or other data is compared in indexes or other statistical measures.