If Nominal Gross Domestic Product (GDP)is Declining but Production Is

question 24

Multiple Choice

If nominal gross domestic product (GDP) is declining but production is rising,then it must be the case that

• A) fewer goods and services are being produced.
• B) prices must be lower on average.
• C) prices must be increasing more rapidly than production.
• D) prices are falling at a greater rate than production is rising.
• E) production is rising at a greater rate than prices are falling.

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Definitions:

Manufacturer

A manufacturer is a person or company that makes goods for sale, often involving the use of raw materials, machinery, and labor to produce finished products.

Landscape

The visible features of an area of land, including the physical elements of landforms, water bodies, living elements, and human elements such as structures and buildings.

Revocation

The act of withdrawing, cancelling, or rescinding a right, offer, contract, or privilege.

Contract Exist

The state in which an agreement has the necessary elements of offer, acceptance, and consideration, making it legally enforceable.