If NGDP Is Nominal GDP and P Is the Price

question 51

Multiple Choice

If NGDP is nominal GDP and P is the price level, which of the following can be used to calculate the growth of the real GDP?

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

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Definitions:

Percentile Points

Percentile points are values that divide a set of observations into 100 equal parts, indicating the percentage of data points that fall below a certain value.

Q1

The first quartile in a data set, representing the median of the lower half of the data set, or the 25th percentile.

Skew

A measure of the asymmetry or deviation from symmetry in a distribution of data, which can be positive or negative.

Data

Information collected for analysis or used to reason, discuss, or calculate something.