If Prices Rise More Quickly Than Output Between 1998 and 2003,then

question 26

Multiple Choice

If prices rise more quickly than output between 1998 and 2003,then in 2003

• A)GDP will be higher than real GDP in 2003.
• B)Real GDP in 2003 will be lower than real GDP was in 1998.
• C)Real GDP in 1998 will be higher than real GDP in 2003.
• D)GDP will be lower in 2003 than it was in 1998.

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Definitions:

Public Company Accounting Oversight Board

A nonprofit corporation established by Congress to oversee the audits of public companies in order to protect the interests of investors.

Enron

A former American energy company that went bankrupt in 2001 due to one of the largest accounting frauds in history.

WorldCom

Once a major telecommunications company that became infamous for its involvement in one of the largest accounting fraud scandals in history.

SEC

The U.S. Securities and Exchange Commission, a federal agency responsible for enforcing federal securities laws and regulating the securities industry.