Which of the Following Could Cause Nominal GDP to Increase

question 20

Multiple Choice

Which of the following could cause nominal GDP to increase and real GDP to decrease?

• A) The price level falls and the quantity of final goods and services produced falls.
• B) The price level falls and the quantity of final goods and services produced rises.
• C) The price level rises and the quantity of final goods and services produced falls.
• D) The price level rises and the quantity of final goods and services produced rises.

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Definitions:

Locus Of Control

A psychological concept that refers to individuals' belief about the extent to which the outcomes of their actions are under their own control (internal locus) or influenced by external forces (external locus).

Social Institutions

Structured systems of social order that govern the behavior and expectations of individuals within a society.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various means such as teaching, training, or research.

Religion

A system of beliefs, practices, and moral codes that shapes individuals' spirituality and worship.