Suppose That Nominal GDP Did Not Change in 2011, and Real

question 137

Multiple Choice

Suppose that nominal GDP did not change in 2011, and real GDP decreased, relative to the year 2010. It can be concluded that:

• A)​total production of goods and services in the economy did not change in 2011.
• B)​the economy experienced deflation during 2011.
• C)​the price level did not change during 2011.
• D)​total production of goods and services in the economy declined during 2011.

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Definitions:

Auditory

Relating to the sense of hearing or the system involved in the perception of sound.

Antipsychotic Medication

Drugs used to treat psychiatric conditions by altering brain chemistry, particularly in cases of schizophrenia, bipolar disorder, and severe depression.

Residential Care

A form of long-term care provided in residential facilities for individuals who need assistance with daily living activities due to age, illness, or disability.

Reality

The quality or state of being actual or true, experienced through the senses.