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.
Answer: C
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The aggregate supply curve shows
A) the total of all planned production for an economy. B) that real GDP can only increase when the price level increases. C) what an economy can produce if resource prices are constant. D) the various quantities of goods consumers will purchase.
What is an indifference curve? Can two indifference curves intersect? Explain your answer
What will be an ideal response?
The following are the actual sales for the last six periods:
Period Sales 1 750 2 820 3 600 4 850 5 900 6 700 Using a 3-month moving average, what would be your prediction for period 7?
If a bank had demand deposits of $50 million and it faced a 25 percent required reserve ratio, it would be required to have how many reserves?
a. $50 million b. $37.5 million c. $25 million d. $12.5 million