If the GDP Deflator Next Year Is Greater Than the GDP

question 192

True/False

If the GDP deflator next year is greater than the GDP deflator this year, then the price level has fallen.

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Definitions:

Cognitive Dissonance

The psychological discomfort experienced from holding two or more conflicting beliefs, values, or attitudes.

Contradictory Cognitions

Holding two or more psychological beliefs, ideas, or values that are in conflict with one another.

Social Norms

The unwritten rules that govern the behavior of individuals within a society, guiding what is considered acceptable or unacceptable.

Conform

The act of adjusting one’s behavior or thinking to match those of others or to meet societal standards.