Real GDP Will Increase

question 81

Multiple Choice

Real GDP will increase

• A)only if the price level rises.
• B)only if the price level falls.
• C)only if the quantity of final goods and services produced rises.
• D)if either the price level rises or the quantity of final goods and services produced rises.

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Definitions:

Alcohol

A chemical compound that is a widely used depressant in beverages; can be intoxicating if consumed in sufficient quantities.

Levy

An imposed tax, charge, or fine on an individual or a company by a government or authoritative body.

Consumption

Refers to the total amount of goods and services that households and individuals buy and use within an economy.

Complements

Products or services that are used together, enhancing the value or demand of each other when consumed in combination.