Limited access

Upgrade to access all content for this subject

Below is a recent quote from a popular political candidate regarding economic activity in America:

“… last quarter it was announced that our Gross Domestic Product (GDP) was below zero …”.

Which statement below is correct in reference to this quote?


It is true and happens frequently as a result of shifts in aggregate supply and demand.


It is false as the politician mistakenly confused the level of GDP with the growth of GDP.


It is false as the politician mistakenly believed that GDP cannot be measured on a quarterly basis.


It is true as a result of rapid inflation in the American economy over recent decades.

Select an assignment template