Historically, Real GDP Has Increased Less Rapidly Than Nominal GDP

question 22

Multiple Choice

Historically, real GDP has increased less rapidly than nominal GDP because:

• A)price indices have not reflected improvements in product quality.
• B)the general price level has increased.
• C)technological progress has resulted in more efficient production.
• D)the general price level has declined.

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Definitions:

Medical Provider

A healthcare professional or organization that provides health care services, including diagnosis, treatment, and preventive care.

Healthcare Professionals

Individuals who work in various sectors of healthcare, providing medical services, treatments, and advice to patients.

Credit Card

A plastic card issued by a bank or financial institution allowing the holder to borrow funds at point of sale, subject to the agreement of repayment with interest.