If Real GDP Decreased During a Year, Then Output Must

question 249

True/False

If real GDP decreased during a year, then output must have decreased.

---

Definitions:

Overdue Account Payable

An obligation or debt that a company has not paid by its due date.

Fiscal Year

A 12-month period that a company uses for accounting purposes and preparing financial statements.

Discounted Note

A promissory note that is issued at a price lower than its face value and repaid at its face value at maturity.

Cash Proceeds

The total amount of cash received from transactions, often relating to the sale of assets or products.