Suppose That GDP in Current Dollars Was $360 Billion in 2006

question 37

Multiple Choice

Suppose that GDP in current dollars was $360 billion in 2006 and $450 billion in 2012.The GDP deflator was 120 in 2006 and 125 in 2012.It can be concluded that,between 2006 and 2012,real GDP:

• A)increased by about $5 billion
• B)decreased by about $32 billion
• C)increased by about $100 billion
• D)increased by about $117 billion
• E)increased by about $60 billion

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Definitions:

Schematic Differentiation

A psychological process involving the categorization and differentiation of concepts based on prior knowledge and experiences.

Symbolic Interactionism

A sociological perspective focusing on how individuals interpret and confer meanings to symbols, gestures, and actions in society, shaping their interactions and social realities.

Macro-Level

Pertaining to large-scale social processes, phenomena, and systems that affect entire populations or societies.

Free Will

The concept that human beings are capable of making choices or actions independent of external or internal predetermined forces.