An Increase in Nominal U

question 44

True/False

An increase in nominal U.S. GDP necessarily implies that the United States is producing a larger output of goods and services.

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Definitions:

Dependent Variable

A variable in an experiment or model that is expected to change in response to changes in independent variable(s).

Outcome Variable

Another term for dependent variable, which is influenced by changes in the independent variable in an experiment.

Predictor Variable

An independent variable used in statistical models to predict the outcome or value of another variable.

Treatment Variable

A variable manipulated by an experimenter in a study to observe its effect on the dependent variable.