Which Statement About Nominal and Real GDP Is Incorrect

question 267

Multiple Choice

Which statement about nominal and real GDP is incorrect?

• A) Real GDP per person is a better measure of standard of living than nominal GDP per person.
• B) Canadian real GDP includes products and services produced within Canada's borders, but only for Canadian-owned businesses.
• C) Real GDP is measured as a flow.
• D) Nominal GDP is measured as a flow.
• E) If real GDP is higher this year than last year, this indicates positive economic growth.

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Definitions:

HR Supply Planning

HR Supply Planning is the process of ensuring the organization has the right number of employees, with the right skills, at the right time to fulfill its needs.

Demographic Trends

Patterns and changes in population characteristics over time, such as age, gender distribution, and birth rates.

Succession Planning

The process of identifying and developing new leaders who can replace old leaders when they leave, retire, or pass away, ensuring organizational continuity.

PHC

Stands for Primary Health Care, which is a whole-of-society approach to health and well-being centred on the needs and preferences of individuals, families, and communities.