Nominal GDP Will Increase

question 90

Multiple Choice

Nominal GDP will increase

• A)only if the average level of prices rises.
• B)only if the quantity of goods and services produced increases.
• C)only if the unemployment rate rises.
• D)only if both the average level of prices rises and the quantity of goods and services produced increases.
• E)if either the average level of prices rises or the quantity of goods and services produced increases.

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Definitions:

Trading Posts

Established locations where trade takes place, historically used for the exchange of goods between traders or between traders and local populations.

African Slavery

The enforced servitude of African people transported to the Americas and other parts of the world from the 16th to the 19th century.

Chesapeake Area

A region surrounding the Chesapeake Bay in the United States, known for its unique cultural history, seafood industry, and environmental significance.

Indentured Servants

Individuals who agreed to work for a specified number of years in exchange for passage to a new country, often during the 17th and 18th centuries.