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Economics: A Contemporary Introduction 9th Edition by William McEachern
Edition 9ISBN: 9780538453745Economics: A Contemporary Introduction 9th Edition by William McEachern
Edition 9ISBN: 9780538453745 Exercise 7
Nominal GDP Which of the following is a necessary condition- something that must occur-for nominal GDP to rise? Explain your answers.
a. Actual production must increase.
b. The price level must increase.
c. Real GDP must increase.
d. Both the price level and actual production must increase.
e. Either the price level or real GDP must increase.
a. Actual production must increase.
b. The price level must increase.
c. Real GDP must increase.
d. Both the price level and actual production must increase.
e. Either the price level or real GDP must increase.
Explanation
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Verified
GDP is a measurement of final goods and ...
Economics: A Contemporary Introduction 9th Edition by William McEachern
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