If Nominal GDP in 2015 Exceeds Real GDP in 2015,then

question 11

Multiple Choice

If nominal GDP in 2015 exceeds real GDP in 2015,then we know with certainty that

• A)the price level in 2015 is less than the price level in the base year.
• B)real GDP in 2015 is less than real GDP in the base year.
• C)real GDP in 2015 is equal to the real GDP in the base year.
• D)the price level in 2015 is greater than the price level in the base year.

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Definitions:

Peripheral Nervous System

The portion of the nervous system that lies outside the brain and spinal cord, consisting of nerves and ganglia, involved in connecting the central nervous system to the rest of the body.

Somatic Nervous System

A component of the peripheral nervous system responsible for the voluntary regulation of body movements through skeletal muscles.

Epinephrine

A biochemical substance, also referred to as adrenaline, that functions both as a hormone and a neurotransmitter, playing a pivotal role in initiating the body's fight-or-flight reaction.

Thyroxin

A hormone produced by the thyroid gland that regulates metabolism, energy production, and growth and development.