Suppose both nominal GDP and real GDP increase. It can be concluded that:
A) output rose.
B) the price level rose.
C) both output and the price level rose.
D) both output and the price level rose, but output rose at a faster rate.
Correct Answer:
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Q120: A one-time rise in the price level
Q121: If nominal GDP increased from $4 billion
Q122: If nominal GDP increases by 2 percent
Q123: If the percent change in real GDP
Q124: If real income rises from $5 trillion
Q126: Assuming food and beverages make up about
Q127: If nominal GDP is $15 trillion and
Q128: If real GDP has increased by 3
Q129: If nominal GDP is $10 trillion and
Q130: Real GDP is calculated by:
A)multiplying nominal GDP
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