Suppose That, from 2014 to 2015, Nominal GDP Increased by 3

question 6

Multiple Choice

Suppose that, from 2014 to 2015, nominal GDP increased by 3 percent and real GDP increased by 5 percent.What do these changes indicate?  

• A) Depreciation has occurred. 
• B) Taxes have increased. 
• C) The inflation rate has decreased. 
• D) The price level has decreased.

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Definitions:

Gratitude and Joy

Feelings of thankfulness and happiness, often considered beneficial to mental and emotional well-being.

Preventing Disease

Measures and practices aimed at reducing the incidence and prevalence of diseases, including vaccinations, healthy lifestyle choices, and public health campaigns.

Health Care Expenses

Costs associated with medical care, treatments, medications, and hospital services for maintaining, diagnosing, or restoring health.

Proactive

Taking initiative by acting in advance of a future situation, rather than just reacting.