Which of the following is a true statement about real and nominal GDP?
A) If nominal GDP increases from one year to the next, we know that production of goods and services has risen.
B) Nominal GDP is a better measure than real GDP in comparing changes in the production of goods and services year after year.
C) Increases in average prices do not affect the calculation of nominal GDP.
D) If real GDP increases from one year to the next, we know that production of goods and services has risen.
E) If real GDP increases from one year to the next, nominal GDP will have risen as well.
Correct Answer:
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Q174: If the GDP deflator is less than
Q199: The measure of production that values output
Q200: If real GDP is larger than nominal
Q201: If nominal GDP rises, we can say
Q202: Nominal GDP is another term for
A)inflation-adjusted GDP.
B)real
Q204: Table 4.19 Q205: If the GDP deflator is 142, by Q206: To make the calculation of real GDP Q207: Table 4.20 Q208: Table 4.20 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
