Nominal GDP Is

question 24

Multiple Choice

Nominal GDP is:

• A)the sum of all monetary transactions which occur in the economy in a year.
• B)the sum of all monetary transactions involving final goods and services which occur in the economy in a year.
• C)the amount of production which occurs when the economy is operating at full employment.
• D)money GDP adjusted for inflation.

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Definitions:

Compensable Factors

Characteristics of jobs that are valued by the employer and are compensated for in the form of wages, salaries, or benefits.

Stock-Option Plan

a compensation scheme that gives employees the option to buy company shares at a predetermined price, usually as an incentive or reward.

Senior Managers

Individuals at the highest level of organizational management who are responsible for the strategic direction and success of the company.

Predetermined Price

A price set in advance for a transaction, contract, or agreement, often used in budgeting and forecasting.