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:

Environmental Impact Statement

A document required by law for certain actions that significantly affect the quality of the environment, outlining the impact of the proposed action and alternatives to it.

Federal Agency

An administrative unit of the U.S. government that has been created by the Congress to perform specific functions.

Negligence Theory

A legal principle that holds parties liable for harm resulting from their failure to act with the care that a reasonably prudent person would have exercised under similar circumstances.

Nuisance Theory

Nuisance theory refers to a legal principle used to address harm or annoyance caused by one party to another, which can involve both private nuisances between individuals and public nuisances affecting the community.