Which of the Following Has Little Impact on Nominal GDP

question 60

Multiple Choice

Which of the following has little impact on nominal GDP?

• A) an increase in aggregate demand
• B) a decrease in aggregate demand
• C) an increase in inflation with no change in output
• D) a reduction in short-run aggregate supply

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Definitions:

Harvesting

The process of gathering ripe crops from the fields, or in a broader business context, the act of capturing value from a business initiative or venture once it has matured.

Real GDP

The measure of the value of economic output adjusted for price changes (inflation or deflation), providing a more accurate reflection of an economy's size and growth.

Energy Consumption

The amount of energy used by devices, systems, or processes, typically measured over a specific time frame.

Energy Information Administration

A U.S. Government agency responsible for collecting, analyzing, and distributing energy information to promote sound policymaking, efficient markets, and public understanding of energy and its interaction with the economy and the environment.