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Demand for Goodswith some simplyfied assumtion --> new equation

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An article in the Economist states that​ "the appeal of GDP is that it​ offers, or seems​ to, a summary statistic of how well an economy is​ doing."​Source:​ "The Euro-Area​ Economy: Speeding​ Up," Economist​, May​ 6, 2017.In what sense does GDP offer a summary statistic of how well an economy is​ doing?A.GDP can measure happiness among citizens—that ​is, the more goods an economy​ produces, the happier its people are—thus indicating​ well-being.B.Since GDP accounts for​ crime, pollution, and other social​ problems, it can be used as a rough measure of​ well-being.C.Since GDP measures how much an economy produces during a period of​ time, it may also indicate​ well-being.D.GDP is able to provide a summary of the goods and services consumed by a typical​ person, thus indicating​ well-being.

Nominal incomes generally increase with inflation becauseA.when inflation is​ anticipated, real incomes also increase by the same percentage as inflation.B.when inflation is​ unanticipated, average nominal incomes also increase by the same percentage as inflation.C.when inflation is​ anticipated, average nominal incomes also increase by the same percentage as the rate of inflation.D.even anticipated inflation causes average nominal incomes to fall as prices increase.

Potential real GDP isA.the level of GDP attained when only some firms have excess capacity.B.the level of GDP attained when all firms have excess capacity.C.the level of GDP attained when all firms are producing at capacity.D.the level of GDP attained when most firms are producing at capacity and unemployment is low.

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