If the prices of all goods and services rise during the year,
a. real GDP may fall.
b. nominal GDP must rise.
c. nominal GDP may increase.
d. real GDP must rise.
c
You might also like to view...
In recent years, economists have come to believe that full employment in the U.S. economy occurs at an unemployment rate between:
a. 1.0 and 2.0 percent. b. 2.5 and 3.5 percent. c. 4.5 and 5.5 percent. d. 6.5 and 7.5 percent.
For conducting marginal analysis, individuals compare ______.
A. marginal interest and marginal price B. marginal wage and marginal yield C. marginal benefits and marginal costs D. marginal utility and marginal productivity
What is the difference between retained earnings and dividends?
What will be an ideal response?
To offset a decreased demand for its currency, a government fixing its exchange rate
A. must decrease the supply of the foreign currency. B. must decrease the supply of its currency. C. must buy gold or some other precious metal. D. must make it illegal to buy its currency.