A country will face recession when:

a.The potential output of a country higher than the real output.

b.The real output of a country equals to the real GDP.

c.The potential output of a country exceeds the potential GDP.

d.The real GDP of a country exceeds the nominal GDP

Real GDP per person tells:

a.How factor market and goods market operate

b.The value of goods and services that the average person can enjoy.

c.The need to consider depreciation value.

d.The way goods and services cost in the market.

Is Nominal GDP always larger than real GDP?

True or False

During the business cycles the opposite of peak is:

a.Trough

b.Inflation

c.Expansion

d.Depression

During the business cycles the opposite of trough is

a.Expansion

b.Depression

c.Peak

d.Inflation