Changes in nominal GDP
A) are due to changes in price only while changes in real GDP are attributed to movements in output and price.
B) are due to changes in output and price while changes in real GDP are attributed to movements in output only.
C) are due to changes in exchange rate while changes in real GDP are attributed to movements in price only.
D) and changes in real GDP are due to changes in output and price.
Correct Answer:
Verified
Q112: If your ticket wins the lottery, the
Q113: In the U.S., since the 1950s, the
Q114: Suppose the personal income in a nation
Q115: The smallest component of income generated in
Q116: Disposable personal income is that part of
Q118: Personal income equals:
A) net national product plus
Q119: Net national product equals:
A) gross national product
Q120: The income earned by those who supply
Q121: Nominal GDP uses current market prices and
Q122: Unemployment benefits provided by the U.S. government
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents