If Nominal GDP Doubles and the GDP Deflator Doubles,then Real

question 38

Multiple Choice

If nominal GDP doubles and the GDP deflator doubles,then real GDP

• A)remains constant.
• B)doubles.
• C)triples.
• D)quadruples.

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Definitions:

Slope

The gradient or tilt of a line on a graph, indicating the relationship between two variables.

Y-Intercept

This refers to the point on a graph where the line crosses the Y-axis, typically representing the value of the dependent variable when the independent variable is zero.

Regression Equation

A mathematical formula used to predict a value of a dependent variable based on the value(s) of one or more independent variables.

Scatter Plot

A graphical representation of the relationship between two quantitative variables, where each point represents an observation.