If Real GDP Falls While Nominal GDP Rises, Then Prices

question 27

Multiple Choice

If real GDP falls while nominal GDP rises, then prices on average have:

• A) risen.
• B) fallen.
• C) stayed the same.
• D) Real GDP cannot rise when nominal GDP falls.

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Definitions:

Value Consciousness

The degree to which consumers are focused on obtaining good value for their money when purchasing products or services.

Humility

A personal quality that involves a modest view of one's own importance and a respectful acknowledgment of the value of others.

Cross-Cultural

Relating to or involving different cultures, emphasizing interaction and comparative analysis.

Multicultural

Pertaining to, or representing several different cultures or cultural elements, highlighting diversity and inclusion.