If GDP Is Increasing at 4 Percent Per Year,and the GDP

question 280

Multiple Choice

If GDP is increasing at 4 percent per year,and the GDP deflator is rising at 2 percent per year,the real GDP is

• A)increasing at 2 percent per year.
• B)increasing at 6 percent per year.
• C)increasing at 4 percent per year.
• D)decreasing at 2 percent per year.
• E)decreasing at 6 percent per year.

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Definitions:

Slope

In mathematics, the slope is the measure of the steepness, incline, or grade of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Point A

In the context of graphs or models, a specific point that might denote a specific situation or condition in an analysis or illustration.

Point D

A specific point on a graph or in a dataset, often used in economics to denote either an equilibrium point or a point of interest in a graphical analysis.

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the economy ought to be like.