The Base Year Is 2005, and the GDP Price Index

question 80

Multiple Choice

The base year is 2005, and the GDP price index in 2004 is 92.0. This implies that the:

• A) Output in 2005 was higher than in 2004
• B) Prices in 2005 were higher than in 2004
• C) Output in 2005 was lower than in 2004
• D) Prices in 2005 were lower than in 2004

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Definitions:

Behavioural Management Approaches

Management strategies focusing on understanding and influencing employee behavior through motivation, leadership, and group dynamics.

Management Thinking

The process of planning, controlling, and making decisions to efficiently and effectively achieve organizational goals.

Maslow's Theory

A psychological theory proposing a hierarchy of human needs, from basic physiological needs to self-actualization, affecting motivation and personal development.

Underlying Principle

The basic foundational idea or assumption that forms the basis for a system, theory, or policy.