If Nominal GDP Increases by 3 Percent from 2004 to 2005

question 104

Multiple Choice

If nominal GDP increases by 3 percent from 2004 to 2005 and real GDP increases by 5 percent from 2004 to 2005,this indicates that

• A)depreciation occurred
• B)taxes increased
• C)the inflation rate decreased
• D)the price level decreased
• E)output decreased

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Definitions:

Rorschach Test

A psychological test in which subjects' perceptions of inkblots are recorded and analyzed, used to assess an individual's personality traits and emotions.

Standardizations

The process of implementing and developing technical standards to ensure that different processes or products are consistent and compatible.

Validity

The extent to which a test, tool, or method accurately measures what it's intended to measure.

Thematic Apperception Test

A projective psychological test wherein individuals express their thoughts and feelings through stories they create about ambiguous images.