Assume the Table Has Recorded the Total Output and Prices

question 91

Multiple Choice

Assume the table has recorded the total output and prices of the only two goods produced. Looking at the changes in real GDP and nominal GDP from 2001 to 2002, we can conclude:

• A) output and prices increased.
• B) only output increased.
• C) only prices increased.
• D) output increased, but prices decreased.

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Definitions:

Want

A desire for something that is not necessarily needed but is desired for personal satisfaction or fulfillment.

Drive Theory

A psychological theory suggesting that motivation is driven by an organism's need to fulfill physiological needs in order to maintain homeostasis.

Gratification

The pleasure, satisfaction, or relief felt when a need, desire, or expectation is fulfilled.

Approach-Approach Conflict

A psychological situation involving the choice between two attractive goals or outcomes, leading to a state of indecision.