When the Value of Nominal GDP Increases from One Year

question 165

Multiple Choice

When the value of nominal GDP increases from one year to the next,we know that one or two things must have happened during that time:

• A)The nation produced fewer goods and services and/or prices fell for goods and services.
• B)Consumption expenditure increased and/or corporate profits increased.
• C)Investment increased and/or payments to employees increased.
• D)The nation produced more goods and services and/or prices rose for goods and services.
• E)the value of real GDP must have increased and/or the price level must have decreased.

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Definitions:

Restating

The act of expressing the same idea or information using different words, often for clarity or emphasis.

Probing

The act of examining or exploring something with the intent to discover information, often by physical or technological means.

Verify

The act of confirming the accuracy, truth, or validity of something through examination or evidence.

Subjective Data

Information derived from personal perceptions, feelings, or opinions, rather than objective measurements, often used in healthcare assessments.