Which of the Following Variables Is Used to Measure Economic

question 21

Multiple Choice

Which of the following variables is used to measure economic growth?

• A) nominal GDP
• B) nominal GDP per capita
• C) real GDP
• D) real GDP per capita

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Definitions:

Rate

A measure, quantity, or frequency, typically one measured against another quantity or measure.

Marked Up

Refers to the percentage increase in the price of a good or service over its original cost to achieve a profit.

Marked Down

Refers to a reduction in the selling price of goods or services, typically to clear inventory or to boost sales.

Sale Price

The final amount at which an item is sold after any discounts or promotions.