Multiple Choice
During a presidential campaign, the incumbent argues that he should be reelected because nominal GDP grew by 12 percent during his 4-year term in office. You know that population grew by 4 percent over the period and that the GDP deflator increased by 6 percent during the past 4 years. You should conclude that real GDP per person
A) grew by more than 12 percent.
B) grew, but by less than 12 percent.
C) was unchanged.
D) decreased.
Correct Answer:

Verified
Correct Answer:
Verified
Q132: If consumption is $4000, exports are $300,
Q133: For the purpose of calculating GDP, investment
Q134: GDP is the most closely watched economic
Q135: Table 23-7<br>A country produces only ice
Q136: Other things equal, in countries with higher
Q138: Figure 23-2<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt="Figure 23-2
Q139: U.S. GDP and U.S. GNP are related
Q140: U.S. GDP was almost $12 trillion in
Q141: In years of economic contraction, firms throughout
Q142: The government's purchases of goods but not