Suppose That Nominal GDP in 2013 Was Less Than Real

question 145

Multiple Choice

Suppose that nominal GDP in 2013 was less than real GDP in 2013.Given this information,we know for certain that

• A)the price level in 2013 was greater than the price level in the base year.
• B)the price level in 2013 was less than the price level in the base year.
• C)real GDP in 2013 was less than real GDP in the base year.
• D)real GDP in 2013 was greater than real GDP in the base year.

---

Definitions:

Capital Balance

The amount of money invested in a business by its owners plus any retained earnings or minus any losses.

Partnership Net Income

The total earnings derived from a partnership's business operations after subtracting all expenses, shared among the partners according to their agreement.

Capital Contribution

The funds or resources that owners inject into a company or partnership to support its operations and growth.

Personal Use

The use of a company's assets or services by an individual for their private needs, not for business purposes.