If GDP in Year 1 Is the Same Dollar Amount

question 12

Multiple Choice

If GDP in year 1 is the same dollar amount as the GDP in year 2,does it follow that Real GDP in year 1 is the same as Real GDP in year 2?

• A) Yes,since prices must necessarily be the same in the two years.
• B) No,since equal GDP figures do not account for population.
• C) No,since prices may not be the same in the two years.
• D) Yes,since equal GDP figures do account for a change in the quality of goods produced in the two years.
• E) none of the above

---

Definitions:

Standardization

The process in which a test is administered to a large group of people whose performance then serves as a standard or norm against which any individual’s score can be measured.

Idiographic Information

Personalized or unique data specific to an individual's case, often used in the study of personality and individual differences.

Technical Name

The specific and often more complex term used by professionals to refer to a concept, object, or phenomenon.

Predictive Validity

The ability of a test or other assessment tool to predict future characteristics or behaviors.