If NGDP Is Nominal GDP and RGDP Is Real GDP,which $\times$

question 48

Multiple Choice

If NGDP is nominal GDP and RGDP is real GDP,which of the following can be used to calculate inflation?

• A)percent change in NGDP + percent change in RGDP
• B)percent change in NGDP - percent change in RGDP
• C)percent change in NGDP \(\times\)percent change in RGDP
• D)percent change in RGDP + percent change in NGDP
• E)percent change in RGDP - percent change in NGDP

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Definitions:

Operation of Law

A legal term that indicates a right or liability is created or extinguished automatically due to existing laws, rather than by the act of a party.

Term Partnership

A business arrangement between two or more individuals who have agreed to jointly conduct business activities for a specific period of time.

Dissolve

The formal closure or termination of a corporation or partnership, often involving liquidation of assets to pay creditors.

Express Authority

Explicit permission granted to an agent by a principal to perform certain acts or transactions.