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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Answer:
According to the Commerce Clause states that the United States Congress shall have power "To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes."
So according to this the correct answer to this question is<em> </em><em>c) regulate foreign and interstate commerce. </em>
Entropy is a system's propensity to lose its ability to grow old and become obsolete.
Entropy is a crucial idea in physics and chemistry, and it can also be used in fields like cosmology and economics. It is a component of thermodynamics in physics. It is a fundamental idea in physical chemistry, the study of chemistry.
Key Learnings: Entropy
Entropy is a metric for a system's unpredictability or disorder.
The mass of a system affects the value of entropy. It has units of joules per kelvin and is represented by the letter S.
The value of entropy can be either positive or negative. The entropy of a system can only go down if the entropy of another system goes up, according to the second law of thermodynamics.
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Answer: It produces inefficient economic results under certain conditions
Explanation: The above situation is known as the paradox of voting,which tries to show that the cost of voting will always be higher than the result obtained from the voting process.This is because Majority voting undermines the importance of an individual voter. This issue was first highlighted in 1793 by Nicolas de Condorcet,where noted that in a single stage election the influence of a single voter reduces as the number of voters increase.
The paradox of voting further highlights that the expected results/outcome of a voter from an electioneering process is less than what the initial expectations.
Stay at the same job until they died