Normally in the United States the relationship between nominal and real GDP for a given year is
A) real GDP is greater than nominal GDP because of price increases.
B) nominal GDP is greater than real GDP because of price increases.
C) nominal GDP equals real GDP.
D) nominal GDP is greater than real GDP because of price decreases.
B
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The Folk Theorem says that anything can happen in infinitely repeated games.
Answer the following statement true (T) or false (F)
If the central bank did not follow the Taylor principle, an increase in inflation would lead to ________
A) a decrease in the nominal interest rate B) an increase in inflation C) a decrease in aggregate expenditure D) all of the above E) none of the above
Political freedom seems to be ________ important to growth than economic freedom
A) less B) more C) equally D) critically
The September 11 attacks no doubt worsened the slowdown that had already begun earlier in mid-2000
a. True b. False