If NGDP Is Nominal GDP and RGDP Is Real GDP $\times$

question 24

Multiple Choice

If NGDP is nominal GDP and RGDP is real GDP, which of the following can be used to calculate inflation?

• A) percent change in NGDP + percent change in RGDP
• B) percent change in NGDP - percent change in RGDP
• C) percent change in NGDP \(\times\) percent change in RGDP
• D) percent change in RGDP + percent change in NGDP
• E) percent change in RGDP - percent change in NGDP

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Definitions:

Recovery

The process of regaining possession or control of something lost or taken away, or the return to a normal state of health, mind, or strength.

Dishonor

The refusal or inability to accept or pay a bill of exchange, promissory note, or other credit instrument when due.

Real Defenses

Legitimate legal defenses available in disputing the validity or enforceability of negotiable instruments.

Personal Defenses

Legal justifications or excuses that an individual can claim to defend against blame or legal liability.