If Real GDP Increased by 3 Percent,then

question 117

Multiple Choice

If real GDP increased by 3 percent,then

• A)real output has increased by 3 percent
• B)the price level has increased by 3 percent
• C)consumer spending increased by 3 percent
• D)government spending increased by 3 percent
• E)the increase might have been caused by an increase in the price level,but we cannot tell for sure

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Definitions:

Predict

To declare or indicate in advance; especially, to foretell on the basis of observation, experience, or scientific reason.

Confidence

The degree to which one can feel assured about an estimate, prediction, or result, often quantified in statistical analysis as a confidence interval.

Winnings

The amount of money or prizes won in a game, lottery, or other competition.

Education

Education is the systematic process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various forms such as teaching, training, storytelling, discussion, and directed research.