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.

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Definitions:

Evocative

Bringing strong images, memories, or feelings to mind.

Psychologically Evolved Mechanism

A cognitive structure or adaptation that has been developed through natural selection to solve specific problems related to survival and reproduction.

Reproductive Success

A measure in evolutionary biology indicating the number of offspring an individual or genotype produces and successfully supports to reproductive age.

Social Dominance

A theory suggesting that societies are structured in hierarchies, with certain groups dominating over others.