According to the hypothetical economy in Figure 5.2,real GDP differs from nominal GDP from 1980 to 2000 because
A) Price level increases caused real GDP to increase.
B) Population growth exceeded output growth.
C) Inflation caused the dollar value of output to decrease.
D) Inflation caused the dollar value of output to increase.
Correct Answer:
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Q47: The wearing out of plants and equipment
Q48: An economy's production possibilities curve indicates
A)The rate
Q49: Q50: Inflation is Q51: Assume nominal GDP is $10,000 trillion in Q53: If real GDP falls from one period Q54: The alternative combinations of final goods and Q55: In periods of rising prices,percentage increases in Q56: Net domestic product is Q57: Net domestic product (NDP)is determined by
A)The increase in the market value
A)Equal to GDP minus
A)Subtracting depreciation
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