If nominal GDP in one year exceeds nominal GDP in the previous year, then the production of output
A) Must have fallen.
B) Must have risen.
C) Must have stayed the same.
D) May have risen, fallen, or stayed the same because there is not enough information to determine what happened to real output.
Correct Answer:
Verified
Q27: Gross Domestic Product can be measured as
Q28: GDP would include which of the following?
A)
Q29: UK Gross Domestic Product (in contrast to
Q30: The value of plant and equipment worn
Q31: In producing a sweater, a man who
Q33: The four categories of expenditures that make
Q34: Marie grows vegetables in her garden to
Q35: If private investment increased by €50 billion
Q36: The three sources of income for the
Q37: GDP may not be a reliable indicator
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