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If aggregate expenditures are less than GDP then?
inventories will increase and real GDP will decline.
How is nominal GDP is converted into real GDP?
by eliminating the effects of price increases on GDP growth
What is it called when GDP figures decline but prices rise?
stagflation
What is a decline in real GDP combined with a raise in the price level known as?
Stagflation
If intermediate goods are included in GDP what would happen to the GDP?
the GDP would be overstated
If aggregate expenditures are less than GDP then?
inventories will increase and real GDP will decline.
How is nominal GDP is converted into real GDP?
by eliminating the effects of price increases on GDP growth
What is it called when GDP figures decline but prices rise?
stagflation
What is a decline in real GDP combined with a raise in the price level known as?
Stagflation
If intermediate goods are included in GDP what would happen to the GDP?
the GDP would be overstated
What of the following would result in a reduction of GDP?
A reduction in GDP can occur due to several factors, including a significant decrease in consumer spending, a decline in business investments, or a drop in government expenditures. Additionally, a rise in unemployment leading to lower production levels can also negatively impact GDP. External shocks, such as natural disasters or geopolitical tensions that disrupt trade, can further contribute to a decline in economic output.
What is a economic peak?
point in time when real GDP stops expanding and begins to decline
What are two typical features of a depression?
A decline in real GDP and a high level of unemployment.
What are the effects on Growth in GDP from genetically modified food?
There have been countries that have refused to import grains that contain GMOs, so it has resulted in negative effects on the GDP.
A decline in business activity that is not as severe as a depression is called?
A recession is a decline in business activity that is not as severe as a depression. The economy will be determined to be in a recession if there has been a decline in the GDP for two consecutive quarters.
What are features of an economic depression?
A decline in the business cycle for a prolonged period of time. High unemployment rate for an extended period of time. A sustained decline in GDP.
What does global recession means?
A global Recession refers to a situation where the GDP of a many nations has been on a down trend (Decline) for two consecutive quarters (at least 6 months) If the decline in GDP continues for a further 2 quarters the economy can be said to be in a state of Depression.
