If the Prices of All Goods and Services Produced in the Economy

question 15

Multiple Choice

If the prices of all goods and services produced in the economy rose while the quantity of all goods and services stayed the same,which would rise?

• A)both real GDP and nominal GDP.
• B)real GDP but not nominal GDP.
• C)nominal GDP but not real GDP.
• D)neither nominal GDP nor real GDP.

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Definitions:

Lagging Strand

The lagging strand is one of the strands of DNA formed during DNA replication, synthesized discontinuously in segments known as Okazaki fragments, opposite the continuous leading strand.

Transcription

The process by which the information in a strand of DNA is copied into a new molecule of messenger RNA (mRNA), initiating gene expression.

Translation

The process in which cellular ribosomes create proteins, mapping instructions from mRNA to synthesize the specific protein.

Amino Acids

Organic compounds that combine to form proteins, serving as the building blocks of life.