A legal duty of care is an obligation by an individual to ensure that no harm befalls anyone that has been put in their care
A legal duty of care can arise from anyone of the following;
1.) Duty mandated by law
2.) relationship inherent to situation
3.)voluntary assumption of duty of care
This power is important for congress to have because money keeps the government going. Letting only Congress use this power ensures that the country’s money Is used correctly, being that it is decided by a vote.
If real GDP falls from one period to another, we can conclude that:
<u>deflation occurred.</u>
Real GDP adjusts the level of output for any potential price adjustments that may have occurred over time; nominal GDP adjusts the level of output for changes in the price level using prices from a base year (constant prices) rather than the "current prices" used in nominal GDP.
The GDP deflator is a price index that tracks the average prices of all finished products and services produced inside a country's boundaries over time. It is used to adjust nominal GDP to determine real GDP.
So when the real GDP falls it can be concluded that deflation has occurred in the economy that is fall in prices .
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