What is the difference between real GDP and nominal GDP?

What is the difference between real GDP per capita and real GDP?

On a business cycle graph, what is the top point of the curve where there is maximum level of GDP?

On a business cycle graph, what is the lowest point of the curve where there is the lowest level of GDP?

On a business cycle graph, what is the phase called when there is a downward slope and GDP is falling?

On a business cycle graph, what is the phase called when there is an upward slope and GDP is increasing?

If GDP of the economy grows, what is MOST LIKELY to happen to sales and profitability of a business in the economy?

If GDP of the economy falls and decreases, what is MOST LIKELY to happen to production and recruitment at a business in the economy?

If GDP of the economy grows, what is MOST LIKELY to happen to investment by a business in the economy?

If GDP of the economy grows, what is MOST LIKELY to happen to congestion, pollution, and transport issues in the economy?

True or False. Economics is the study of choices under scarcity

What is the study of the behaviour of individuals, households, and companies and is the study of how markets between buyers and sellers work?

What is the study of the economy as a whole?

Which phase of the business cycle is missing: Recovery, Boom, Recession

Fill in the blank. GDP is the total value of __________ goods and services produced in the economy in a year