If You Have $1 000 and the GDP Deflator Increases

question 9

Multiple Choice

If you have $1 000 and the GDP deflator increases from 112 to 120,then

• A)the value of the $1 000 increases.
• B)the $1 000 will buy 7 percent more of the goods and services produced by society.
• C)the $1 000 will buy 7 percent less of the goods and services produced by society.
• D)you will be able to more goods,but the real value of those goods will decrease at the same time.

Identify and differentiate between various types of crowds and their characteristics.

Know significant historical events that have impacted societal norms, specifically the Canadian Charter of Rights and Freedoms.

Distinguish between concepts of fads, fashions, rumours, and urban legends.

Comprehend theories related to collective behaviour, including contagion theory, convergence theory, and emergent norm theory.

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Definitions:

Target Profit

The profit a company aims to achieve in a specific period.

Dollar Sales

Total revenue generated from the sale of goods and services, measured in dollars.

Unit Sales

The quantity of products sold, not considering the sales price or revenue.

Margin Of Safety

Margin of safety represents the difference between actual sales and the break-even point, indicating the buffer a company has before it incurs a loss.