Real GDP Can Increase If the I

question 142

Multiple Choice

Real GDP can increase if the i. quantities of goods and services produced decrease and prices fall by a smaller percentage.
Ii. quantities of goods and services produced decrease and prices fall by a larger percentage.
Iii. quantities of goods and services produced decrease and prices do not change.
Iv. quantities of goods and services produced increase.

• A)i only
• B)iii only
• C)iv only
• D)i and iii
• E)i, ii, and iii

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Definitions:

Incidental Beneficiary

A person or entity that indirectly gains a benefit from a contract to which they are not a party, without the contract specifically intending such benefit.

Beneficiary

A person or entity entitled to receive benefits or assets under a legal arrangement or instrument, such as a will, trust, or insurance policy.

Third-party Beneficiary

An individual or legal entity that gains a benefit from a contract despite not being one of the primary parties involved.

Creditor Beneficiary

A third party that benefits from a contract wherein the promisor agrees to pay the promisee's debt to the beneficiary.