Real GDP May Be Calculated by Dividing _______ by _______

question 93

Multiple Choice

Real GDP may be calculated by dividing _______ by _______.

• A) nominal GDP;the GDP deflator
• B) the GDP deflator;nominal GDP
• C) nominal GDP;real GDP
• D) the price index;nominal GDP
• E) real GDP;nominal GDP

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Definitions:

Differentiation

Involves the process of becoming distinct or specialized in structure or function, often used in the context of cells in biology or elements within a system.

Migration

The movement of people or animals from one region or habitat to another, often seasonally or periodically.

Hierarchical System

A hierarchical system is an organized structure in which elements are ranked or classified based on levels of importance or authority, often depicted in a pyramid shape where each layer controls the one below.

Chain of Command

The chain of command is a hierarchical structure within an organization that outlines the authority and responsibility relationships amongst its members, ensuring clear lines of communication and decision-making.