Nominal GDP Can Change

question 71

Multiple Choice

Nominal GDP can change

• A)only if prices and the quantities of the goods and services change.
• B)only if prices increase.
• C)only if prices change.
• D)only if the quantities of goods and services change.
• E)if either prices or the quantities of goods and services change.

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Definitions:

Showrooming

The practice of examining products in a store and then buying them online for a cheaper price.

Dynamic Pricing

A pricing strategy where prices are adjusted in real-time based on market demand, competition, and other external factors.

Online Shopping

The act of purchasing products or services over the Internet through virtual stores or e-commerce platforms.

Shipping and Handling

The process and cost involved in preparing and transporting goods from one place to another.