The US Had a Nominal GDP of 10

question 45

Multiple Choice

The US had a nominal GDP of 10.3 trillion dollars in 2000. If the US great at an average rate of 3.0 % per year then its compounded GDP at the end of 2015 would have been:

• A) 14.7 Tr.
• B) 16.0 Tr.
• C) 16.3 Tr.
• D) 15.6 Tr.

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Definitions:

Modelling Effect

The process by which individuals learn behaviors, norms, or attitudes by observing the actions of others, often significant in social learning theory.

Vicarious Learning Experience

Learning that occurs by observing the actions and consequences of others' behaviors rather than through direct experience.

Modelling

Tendency for a person to reproduce the actions, attitudes, and emotional responses exhibited by a real-life or symbolic model. Also called observational learning.

Social Loafing

A reduction in individual effort when working on a collective task (one in which our outputs are pooled with those of other group members) compared with working either alone or coactively (our outputs are not pooled).