Of the following, which is correct?
A) Nominal GDP is not affected by changes in prices of goods and services.
B) Nominal GDP does not change when the production of goods and services increases.
C) Nominal GDP increases when the prices of goods and services increase.
D) Real GDP changes only when the prices of goods and services really change.
Correct Answer:
Verified
Q40: The presence of _ creates a
Q41: If Dick Smith, an Australian manufacturer of
Q42: The expenditure approach measures GDP by adding
A)consumption
Q43: The three categories of income used in
Q44: GDP counts only final goods and services
Q46: Which of the following is an example
Q47: The relationship between real GDP and potential
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