Explain Whether It Is Possible for Nominal GDP to Increase

question 50

Essay

Explain whether it is possible for nominal GDP to increase and real GDP to decrease in the same period.

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Definitions:

Unusual

Refers to events or transactions that are infrequent, unexpected, or uncommon in the normal course of business operations.

Infrequent

Occurring or happening rarely or at wide intervals.

Extraordinary Item

An unusual or infrequent event that is not part of the normal activities of a business and must be reported separately in the financial statements.

Discontinued Operations

Parts of a company's core business or subsidiaries that have been sold, disposed of, or abandoned and are reported separately from continuing operations in financial statements.