Choose the Correct Statement

question 62

Multiple Choice

Choose the correct statement.

• A)When nominal GDP increases, real GDP decreases.
• B)Nominal GDP is just a more precise name for real GDP.
• C)We measure the change in production by comparing nominal GDP in one year with real GDP in the previous year.
• D)Nominal GDP is just a more precise name for GDP.
• E)Nominal GDP and real GDP both increase when the average level of prices increase.

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Definitions:

Growth

The process of increasing in physical size, intellectual capacity, maturity, or the expansive development of an organism or entity over time.

Fetal

Pertaining to the developing human within the womb, especially beyond the eighth week after conception.

Developmental Psychologist

A professional who studies the psychological growth and changes that occur throughout a person's life, focusing on cognitive, social, and emotional development.

Newborns

Infants in their first few hours to weeks of life, characterized by rapid physiological and developmental changes.