Which of the following is definitely true when nominal GDP increases?
A) The standard of living improves.
B) The amount of output increases.
C) The value of output increases.
D) The production possibilities curve shifts outward.
Correct Answer:
Verified
Q1: An increase in our production possibilities is
Q2: Over the last decade,the world has experienced:
A)
Q4: Long-run economic growth policies focus on:
A) Shifting
Q5: Long-run economic growth is consistent with:
A) Expanding
Q6: The production possibilities curve represents the:
A) Actual
Q7: If an economy moves from a point
Q8: To produce a combination of goods and
Q9: Long-run macroeconomic policy focuses on shifting the:
A)
Q10: Short-run economic growth comes from:
A) Expanding the
Q11: Which of the following is definitely true
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