Use the following figure to answer the questions : Figure 5.1 : 
According to the hypothetical economy in
-during the 1980-1990 time periods,real GDP was relatively constant but nominal GDP increased.This can be explained by
A) Lower average price levels.
B) Inflation.
C) Higher levels of production.
D) A decrease in production per capita.
Correct Answer:
Verified
Q21: Suppose the total market value of all
Q37: Real GDP is the
A)Value of output produced,including
Q39: Value added is the
A)Addition to GDP because
Q40: A furniture factory produces dining room sets.The
Q41: The account that gives the most accurate
Q44: If the price level is 100 for
Q45: Use the following figure to answer the
Q47: Inflation is
A)The increase in the market value
Q48: An economy's production possibilities curve indicates
A)The rate
Q56: Net domestic product is
A)Equal to GDP minus
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