Refer to the below table. If output increases by 8% from Year 5 to Year 6, then in that period
A.
Real GDP will rise faster than nominal GDP
B.
Real GDP will rise slower than nominal GDP
C.
Nominal GDP will decrease
D.
Real GDP will decrease
A.
Real GDP will rise faster than nominal GDP
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
In long-run equilibrium for a perfectly competitive firm, price equals which of the following?
a. Economies of real cost. b. Maximum total revenue. c. Diseconomies of scale cost. d. Minimum point on the long-run average cost curve.
Which of the following policy actions shifts the aggregate-demand curve?
a. an increase in the money supply b. an increase in taxes c. an increase in government spending d. All of the above are correct.
If the real interest rate increases:
A. The investment demand curve will shift to the right B. The investment demand curve will shift to the left C. There will be a movement upward along the investment demand curve D. There will be a movement downward along the investment demand curve