Historically,nominal GDP Has Increased Faster Than Real GDP Because

question 64

Multiple Choice

Historically,nominal GDP has increased faster than real GDP because

• A)the general price level has fallen.
• B)improvements in product quality have not been reflected in prices.
• C)exports have risen more rapidly than imports.
• D)imports have risen more rapidly than exports.
• E)the general price level has increased.

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Definitions:

Well-Learned

The state of having thoroughly practiced or mastered a skill, knowledge, or task through repetition.

Automatic Skills

Skills that are performed with little conscious thought, often developed through repeated practice and learning.

Two-Track Mind

The concept of the mind simultaneously processing information on two different levels; conscious and unconscious.

Implicit Memory

Memory that influences thoughts and behaviors without conscious awareness, such as skills or habits.