If Nominal GDP Rises

question 20

Multiple Choice

If nominal GDP rises:

• A)​we can be sure the price level has risen.
• B)​real GDP may rise or fall.
• C)​real GDP must rise.
• D)​real GDP must fall.

---

Definitions:

Organizational Culture

The values, behaviors, and shared vision that contribute to the environment of an organization.

Cognitive limitations

The restrictions inherent in an individual's cognitive capacity, affecting their ability to process and understand information.

Information-processing

Refers to the series of actions or steps taken in order to receive, perceive, and interpret information from the environment.

Classical decision theory

A framework that assumes decision-makers are fully rational and seek to maximize utility or profit when making choices.