If the Quantity of Goods and Services Produced in the Economy

question 53

Multiple Choice

If the quantity of goods and services produced in the economy decreases,

• A)it may be possible for real GDP to increase.
• B)real GDP would certainly increase.
• C)it may be possible for nominal GDP to increase.
• D)nominal GDP would certainly increase.

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Definitions:

Latent Learning

The process of learning that occurs without any obvious reinforcement of the behavior or associations that are learned.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally triggers a response without any need for prior learning.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, elicits a conditioned response.

Unconditioned Response

An automatic, natural reaction to a stimulus that occurs without the need for prior learning.