If Real GDP Increased and GDP Decreased During the Same

question 161

Multiple Choice

If real GDP increased and GDP decreased during the same year,we could conclude that

• A)an inflation occurred during the year.
• B)the unemployment rate increased during the year.
• C)the general price level fell during the year.
• D)net exports were negative.
• E)All of the choices are correct.

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Definitions:

Acceptance of Goods

The process by which a buyer recognizes that the purchased goods meet the specified criteria and formally accepts them.

Product Liability Law

Legislation that holds manufacturers, wholesalers, or retailers responsible for damages caused by defective products they sell.

Design Defects

Flaws in a product's design that render it unsafe or ineffective, leading to potential harm or failure in usage.

Manufacturing Defects

Flaws or imperfections in a product resulting from the manufacturing process, which can affect usability, appearance, or safety.