What Likely Occurred During 2012 If Nominal GDP Did Not

question 34

Multiple Choice

What likely occurred during 2012 if nominal GDP did not change and real GDP decreased,relative to the year 2011?

• A)Total production of goods and services in the economy did not change in 2012.
• B)The economy experienced deflation during 2012.
• C)The price level did not change during 2012.
• D)Total production of goods and services in the economy declined during 2012.

---

Definitions:

Fishing

The activity of catching fish either for recreational purposes or as a means of livelihood, practiced in various bodies of water.

Wild Plant Foods

Edible plants that grow in natural, wild settings without human cultivation, often foraged for consumption.

Cultural Evolution

The theory that culture changes over time due to various factors such as innovation, diffusion, and social learning, somewhat analogous to biological evolution.

Notion Of Progress

The idea or belief that society, technology, the economy, and cultures are moving forward and improving over time.