Real GDP Will Increase

question 81

Multiple Choice

Real GDP will increase

• A)only if the price level rises.
• B)only if the price level falls.
• C)only if the quantity of final goods and services produced rises.
• D)if either the price level rises or the quantity of final goods and services produced rises.

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Definitions:

Internal Locus

Refers to the belief that one's own actions or characteristics determine the outcomes in their life, rather than external forces.

Buying Power

The capacity of an individual or group to purchase goods or services, often influenced by income and economic conditions.

Personal Happiness

A state of well-being and contentment that comes from personal achievements, relationships, or other personal attributes.

Relative Deprivation

A perceived disadvantage occurring when individuals think they are worse off compared to others in some respect.