The Real GDP in a Nation Has Just Increased from $2

question 259

Multiple Choice

The real GDP in a nation has just increased from $2 billion to $2.1 billion.

• A) This country has experienced economic growth because there is a $.1 billion increase in real GDP.
• B) We do not know if this country experienced economic growth since the increase in the population was not given.
• C) We do not know if this country experienced economic growth since information on nominal GDP was not given.
• D) This country did not experience economic growth since $.1 billion is not a large number.

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Definitions:

Exchange Rate

The rate at which one currency can be exchanged for another currency.

Canadian Dollar

The official currency of Canada, abbreviated as CAD.

Samurai Bond

A Japanese yen-denominated bond issued in Japan by a non-Japanese entity.

Japan

A country located in East Asia, known for its rich culture, technological advancements, and economic significance.