If Real GDP Decreased by 1% and Nominal GDP Increased

question 72

Multiple Choice

If real GDP decreased by 1% and nominal GDP increased by 2%, then output:

• A)​increased and the price level increased.
• B)​increased and the price level decreased.
• C)​decreased and the price level increased.
• D)​decreased and the price level decreased.

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Definitions:

Theory Of Mind

One’s awareness that other people base their behaviors on their own beliefs, intentions, and mental states, not on information they have no way of knowing.

Egocentrism

A cognitive trait involving the inability to distinguish between one's own perspective and someone else's perspective.

Metacognitive Knowledge

An individual's awareness and understanding of their own thought processes.

Pronominal Reversal

A speech pattern often observed in young children and individuals with certain communication disorders, where pronouns are reversed, such as using "you" for "I".