If Nominal GDP Is Rising Faster Than Real GDP, Then

question 48

True/False

If nominal GDP is rising faster than real GDP, then inflation must be occurring.

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Definitions:

Physiological

Pertaining to the branch of biology that deals with the normal functions of living organisms and their parts.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Belonging

A sense of acceptance and support within a group or environment, often leading to feelings of security and community.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which suggests that people are motivated to fulfill basic needs before moving on to other, more advanced needs.