Over the Last Twenty Years, Real GDP in the U

question 229

Multiple Choice

Over the last twenty years, real GDP in the U.S. economy has increased and there has been inflation. This indicates that

• A) aggregate demand has increased while aggregate supply has been constant.
• B) aggregate demand has been constant while aggregate supply has increased.
• C) aggregate demand has increased more than aggregate supply.
• D) aggregate demand has increased less than aggregate supply.

---

Definitions:

Water Shortfall

A situation where the available water resources are insufficient to meet the demands of a population or region.

Formal Education

Structured and systematic instruction in academic content provided by schools and other educational institutions, following specific curricula.

High-Income Nations

Countries with a high gross national income per capita, offering their citizens a relatively high standard of living and economic stability.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and fertile land.