Nominal GDP Will Increase

question 241

Multiple Choice

Nominal GDP will increase

• A)only if the price level rises.
• B)only if the price level falls.
• C)only if the quantity of final goods and services produced rises.
• D)if either the price level or the quantity of goods and services produced rises.

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Definitions:

Caribbean Trade

The exchange of goods, services, and cultural influences among Caribbean countries and between the Caribbean and the rest of the world.

International Slave Trade

The transatlantic trading patterns which were established as early as the mid-17th century that transported African slaves to colonies in the Americas, contributing to the slave economy.

Congress

The bicameral legislature of the United States government, comprised of the House of Representatives and the Senate, responsible for making federal laws.

Slave Trade Ban

Legislation or measures implemented to prohibit the trade of enslaved individuals, such as the British Slave Trade Act of 1807 and the United States Act Prohibiting Importation of Slaves in 1808.