If NGDP Is Nominal GDP and RGDP Is Real GDP

question 19

Multiple Choice

If NGDP is nominal GDP and RGDP is real GDP, which of the following can be used to calculate inflation?

• A) percent change in NGDP + percent change in RGDP
• B) percent change in NGDP - percent change in RGDP
• C) percent change in NGDP ｴ percent change in RGDP
• D) percent change in RGDP + percent change in NGDP
• E) percent change in RGDP -percent change in NGDP

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Definitions:

Internal Components

The elements or parts within a system, organization, or device that function together to ensure its operation or effectiveness.

Technology

The tools, knowledge, and/or techniques used to transform inputs into outputs.

Rigid and Reactive

Describes a tendency or approach in organizations to be inflexible and to respond rather than anticipate change.

People

The human resources of an organization.