When Nominal GDP Is Greater Than Real GDP It Means

question 275

Multiple Choice

When nominal GDP is greater than real GDP it means

• A) prices have risen since the year we use as a standard for constant prices.
• B) the population has increased.
• C) prices have fallen since the year we use as a standard for constant prices.
• D) the population has decreased.
• E) there is a mistake because nominal GDP can never be greater than real GDP.

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Definitions:

Structured Interviews

A systematic method of interviewing where all candidates are asked the same predetermined questions in the same order.

Human Factors Psychology

A field of psychology that studies how people interact with products, tools, technologies, and environments to improve usability and performance.

Interviewer Illusion

A cognitive bias in interviewing, where the interviewer overestimates their ability to evaluate the interviewee accurately, often ignoring contextual factors.

Unstructured Interview

An interviewing technique without a set sequence of questions, allowing for a more flexible and spontaneous conversation to elicit more personal and detailed responses.