If Real GDP in 2017 (Using 2007 Prices)is Lower Than

question 45

Multiple Choice

If real GDP in 2017 (using 2007 prices) is lower than nominal GDP of 2016, then

• A)prices in 2017 are lower than prices in 2016.
• B)nominal GDP in 2017 equals nominal GDP in 2016.
• C)prices in 2017 are higher than prices in 2016.
• D)real GDP in 2017 is larger than real GDP in 2016.
• E)the economy is going through a recession.

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Definitions:

Amino Acid

Organic molecules that serve as the building blocks of proteins, containing both amino and carboxyl functional groups.

Mechanism

A sequence of steps or a process by which a chemical reaction or physical event occurs.

Reaction

A reaction process where starting materials, referred to as reactants, evolve into one or more altered forms, named products.

Wittig Reaction

A chemical reaction used to convert aldehydes or ketones into alkenes through the use of a phosphonium ylide.