If the Real GDP Equals $100 Billion This Year and Nominal

question 216

Multiple Choice

If the real GDP equals $100 billion this year and nominal GDP is $200 billion,the price level since the base year has increased

• A)$200 billion
• B)50 percent
• C)$100 billion
• D)100 percent
• E)200 percent

---

Definitions:

Team-Based Incentive Pay

A compensation strategy where team members receive bonuses or rewards based on the collective performance of their group.

Individualistic Culture

A societal model that places the emphasis on personal achievement and independence over the well-being of the group.

Slow

Refers to a reduced speed or rate of progress.

Open-book Management

A management approach where companies share financial and operational information with all employees to involve them in decision making.