Suppose the nominal gross domestic product (GDP) in an economy in 2012 was the same as it was in 2011, but the real GDP has decreased. It can, therefore, be concluded that the:
A) total production of goods and services did not change in 2012
B) economy experienced deflation during 2012
C) price level did not change during 2012
D) total production of goods and services declined during 2012
E) total production of goods and services increased during 2012
Correct Answer:
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Q59: If a country increases its saving rate,
Q60: Identify the correct statement
A)Effective protection of property
Q61: The net national product (NNP) is the:
A)difference
Q62: The amount of income received by households
Q63: Net exports are defined as:
A)exports plus imports.
B)exports
Q65: Household income after taxes is called:
A)national income.
B)gross
Q66: The aggregate income in an economy comprises:
A)consumption,
Q67: According to the expenditure method, _.
A)GDP =
Q68: Which of the following is included in
Q69: The difference between gross domestic product (GDP)
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