Historically,real GDP Has Risen Less Rapidly Than Nominal GDP Because

question 66

Multiple Choice

Historically,real GDP has risen less rapidly than nominal GDP because

• A)exports to foreign nations have risen more rapidly than imports.
• B)the general price level has fallen.
• C)technological progress has resulted in more efficient production.
• D)the general price level has risen.
• E)price indices have not reflected improvements in product quality.

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Definitions:

In-house

Activities or operations performed within an organization by its own members or employees, rather than by external parties.

Environmentally Friendly

Pertains to goods, services, and practices that cause minimal harm to the environment.

Business Today

Refers to the current state, practices, trends, and environments in the world of business, often discussed in the context of contemporary challenges and innovations.

Annual Output

The total value of goods and services produced by an economy, company, or individual within one fiscal year.