Use the Following to Answer Questions

question 314

Multiple Choice

Use the following to answer questions:
Scenario: Real GDP
Suppose that in year 1 an economy produces 100 golf balls that sell for $3 each and 75 pizzas that sell for $8 each. The next year the economy produces 110 golf balls that sell for $3.25 each and 80 pizzas that sell for $9 each.
-(Scenario: Real GDP) Look at the scenario Real GDP. Using year 1 as the base year, the growth rate of real GDP from year 1 to year 2 is:

• A)10%.
• B)7.8%.
• C)19.7%.
• D)8.8%.

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Definitions:

Trade Unions

Organizations that represent the collective interests of workers in negotiations with employers regarding wages, work conditions, and rights.

American Liberty League

A conservative political organization formed in 1934, opposing the New Deal of President Franklin D. Roosevelt and advocating for free enterprise and limited government.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s in response to the Great Depression.

Share Our Wealth Society

A program proposed by Huey Long during the Great Depression in the United States, advocating for wealth redistribution to curb poverty and inequality.