When the Value of Nominal GDP Increases from One Year

question 165

Multiple Choice

When the value of nominal GDP increases from one year to the next,we know that one or two things must have happened during that time:

• A)The nation produced fewer goods and services and/or prices fell for goods and services.
• B)Consumption expenditure increased and/or corporate profits increased.
• C)Investment increased and/or payments to employees increased.
• D)The nation produced more goods and services and/or prices rose for goods and services.
• E)the value of real GDP must have increased and/or the price level must have decreased.

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Definitions:

Strategic

Relating to the identification of long-term or overall aims and interests and the means of achieving them, often within a business or organizational context.

Human Resource Management

The strategic approach to the effective management of people in an organization, focusing on maximizing employee performance.

Senior Executive

A top-level manager or officer in an organization, typically responsible for making strategic decisions and overseeing the entire operation.

Chief Executive Officer

The highest-ranking executive in a company or organization, responsible for overall management and operational decisions.