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.

Identify strategies to overcome call reluctance and the importance of time management in sales.

Understand the elements necessary for successful telephone communication in sales.

Realize the importance of respect, trust, and friendship in building a successful sales career.

Acknowledge the importance of networking and its impact on sales.

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Definitions:

Inflation

A universal surge in prices and a dip in the value of monetary assets.

Real GDP

The measure of a country's economic output adjusted for price changes or inflation.

Value Added

The increase in the value of a product or service as a result of a particular process, excluding the costs of raw materials and energy.

Intermediate Products

Intermediate products are goods that are used as inputs in the production of other goods or services, rather than being sold directly to consumers.