Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's again produced 10,000 large pepperoni pizzas (identical to last year's pizzas)
But sold them for $12 each. Based on this information, we can conclude that Harry's production of
Large pepperoni pizzas
A) increased both nominal and real GDP from last year.
B) increased nominal GDP from last year, but real GDP was unaffected.
C) increased real GDP from last year, but nominal GDP was unaffected.
D) did not change either nominal or real GDP from last year.
Correct Answer:
Verified
Q2: Unemployment describes the condition where
A) equipment and
Q3: Why are high rates of unemployment of
Q4: Which of the following statements is accurate
Q5: Macroeconomics is mostly focused on
A) the individual
Q6: Why are economists concerned about inflation?
A) Inflation
Q7: Inflation is defined as
A) a general increase
Q8: Before the period of modern economic growth,
A)
Q9: Which of the following is most closely
Q10: Modern economic growth refers to countries that
Q11: Harry's Pepperoni Pizza Parlor produced 10,000 large
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