Of the following, which is CORRECT?
A) Nominal GDP does not change when the production of goods and services increases.
B) Nominal GDP is not affected by changes in prices of goods and services.
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:
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Q187: According to the BEA, in the second
Q188: Suppose an economy has some inflation. Then,
Q189: The maximum amount of production that can
Q190: In years with inflation, nominal GDP increases
Q191: Which of the following is TRUE regarding
Q193: Nominal GDP is
A) real GDP adjusted for
Q194: Real GDP is
A) an increase in the
Q195: Normally in the United States the relationship
Q196: Potential GDP
A) measures the actual production from
Q197: Nominal GDP is the value of final
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