Which of the Following Statements Is True

question 174

Multiple Choice

Which of the following statements is true?

• A) When all of the economyʹs resources are fully employed, the value of production is called real GDP.
• B) Potential GDP fluctuates around real GDP.
• C) Potential GDP is the same as real GDP.
• D) Real GDP fluctuates around potential GDP.

---

Definitions:

Lemon Laws

Statutes that provide remedies to consumers for products, typically vehicles, that repeatedly fail to meet standards of quality and performance.

Defective Parts

Components or elements of a product that are faulty, flawed, or do not meet specified standards of quality.

Punitive Damages

Monetary compensation awarded to a plaintiff that exceeds simple compensation and is intended to punish the defendant for egregious behavior.

Special UCC Exception

A unique or specific deviation from the general rules established under the Uniform Commercial Code, which governs commercial transactions in the United States.