Table 23-4 the Table Below Reports Nominal and Real GDP for the for the U.S

question 513

Multiple Choice

Table 23-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.
-Refer to Table 23-4. What was the growth rate of real GDP for 1930?

• A)-8.62%. Real GDP is a better gauge of economic well-being than nominal GDP.
• B)-8.62%. Nominal GDP is a better gauge of economic well-being than real GDP.
• C)-9.43%. Real GDP is a better gauge of economic well-being than nominal GDP.
• D)-9.43%. Nominal GDP is a better gauge of economic well-being than real GDP.

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Definitions:

Receivables

Amounts owed to a company by customers for goods or services that have been delivered but not yet paid for.

Without Recourse

A term indicating that the seller of an asset is not responsible for the buyer's inability to collect any debts or obligations related to the asset.

Interest Income

Income earned from deposit accounts or investments through the receipt of interest payments.

Interest Rate

The proportion of a loan charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.