If Real GDP Is Larger Than Nominal GDP

question 111

Multiple Choice

If real GDP is larger than nominal GDP

• A) prices must be lower than in the base year.
• B)prices must be higher than in the base year.
• C)the economy must be growing.
• D)the economy must be shrinking.
• E)prices and output must be constant.

---

Definitions:

Dissolution of a Firm

The process of legally ending the existence of a business or partnership and distributing its assets to claimants.

Governmental Intervention

Actions taken by government bodies to influence or directly control activities in various sectors.

India

India is a South Asian country, the seventh-largest by land area, second-most populous, and the world's largest democracy, known for its diverse culture, languages, and history.

UPA

Uniform Partnership Act, a model law that governs partnership formation and operation in the United States to maintain consistency across states.