If Nominal GDP, Prices, and Population All Increase but Real

question 25

Multiple Choice

If nominal GDP, prices, and population all increase but real GDP remains the same then

• A)real GDP per capita will decrease
• B)real GDP per capita will increase
• C)we cannot tell what will happen to real GDP per capita
• D)the standard of living will increase
• E)the standard of living will remain the same

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Definitions:

Dominate

To have control or exert power over others, often characterizing relationships or interactions where one party has a significant influence over another.

Oblige

To compel someone to do something by moral, legal, or social pressure; an act of providing a service or favor out of duty.

Concern For Self

The consideration and care for one's own interests, well-being, or safety.

Obliging

A conflict management style characterized by attempting to minimize differences and emphasizing commonalities to satisfy the concerns of the other party.