In the second quarter (three-month period) of 2001, U.S.nominal GDP increased but U.S.real GDP declined.We can conclude that
A) nominal income declined by more than personal income.
B) the price level rose by more than nominal GDP.
C) real wages declined by more than real GDP.
D) the price level fell by more than real GDP.
Correct Answer:
Verified
Q37: When an economy's production capacity is expanding,
A)
Q38: GDP can be calculated by summing
A)consumption, investment,
Q39: In national income accounting, the consumption category
Q41: Nominal GDP is
A)the sum of all monetary
Q46: Which of the following best defines national
Q48: Suppose that GDP was $200 billion in
Q82: In a typical year, which of the
Q87: Transfer payments are included in
A) NI.
B) PI.
C)
Q89: What is the difference between national income
Q107: Real GDP measures
A) current output at current
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