If real GDP increased by 2% and nominal GDP increased by 2%, then output:
A) increased and the price level increased.
B) increased and the price level decreased.
C) increased and the price level remained unchanged.
D) remained unchanged and the price level increased.
Correct Answer:
Verified
Q82: If nominal GDP increased from $4,500 billion
Q83: If the GDP deflator decreases from one
Q84: Mistakenly adding the value of a good
Q85: Depreciation is:
A)income earned but not received.
B)an allowance
Q86: If the GDP deflator increases from one
Q88: If real GDP increased by 2% and
Q89: In 2011, U.S. GDP totaled approximately:
A)$2.1 trillion
B)$2.8
Q90: Which of the following is true about
Q91: If nominal GDP increased from $5,000 billion
Q92: Household income after taxes is called:
A)national income.
B)gross
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