By How Much Does GDP Change Between 2004 and 2005

question 96

Multiple Choice

By how much does GDP change between 2004 and 2005 in the following scenario? In 2004,a rich woman has a butler and pays him $50,000 to perform butler services.In 2005,she marries the butler but he continues to perform butler services.

• A)GDP rises by $50,000.
• B)GDP is unchanged.
• C)GDP falls by $50,000.
• D)GDP rises by $25,000.
• E)Not enough information is given.

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Definitions:

Recency Error

The tendency to evaluate someone's performance based on their most recent behavior rather than on a longer period of observational time.

Leniency Error

A bias in performance evaluations where the reviewer rates an individual more favorably than is warranted by his or her performance.

Product Specification Standards

Detailed descriptions of the essential technical requirements for materials, components, or services, including patterns of performance, functionality, and safety.

Performance Appraisal

Performance appraisal is the process of evaluating an employee's job performance and productivity in accordance with previously established criteria and organisational objectives.