If Nominal GDP Increases from $10 Trillion to $12 Trillion

question 88

True/False

If nominal GDP increases from $10 trillion to $12 trillion in a year,it can only mean that aggregate output grew by 20%.

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Definitions:

Theory X

A management concept that assumes employees inherently dislike work and must be closely supervised and coerced into achieving organizational objectives.

Assume Responsibility

The act of taking on duties or obligations, acknowledging one's role in a situation, and being accountable for the outcomes.

Transactional Analysis

A psychological theory and method of therapy wherein social transactions are analyzed to determine the ego state of the communicator.

Interpersonal Communication

The exchange of information, feelings, and meanings between two or more people through verbal and/or non-verbal methods.