If Jim pays $1000 to John:
A) GDP will increase by $1000.
B) GDP will increase, but we cannot determine by what amount.
C) nominal GDP will increase, but we cannot be sure if real GDP will increase or decrease.
D) we need more information in order to determine whether or how much GDP will change.
Correct Answer:
Verified
Q119: U.S. nominal GDP:
A)has historically increased more slowly
Q120: Suppose that nominal GDP did not change
Q121: The GDP deflator:
A)takes government purchases into account,
Q122: GDP excludes:
A)business purchases of investment goods, such
Q123: If nominal GDP rises:
A)we can be sure
Q125: The total dollar value of purchases in
Q126: If country A had a smaller underground
Q127: Would it be possible for an increase
Q128: If nominal GDP rises from $5 billion
Q129: The main difference between GDP and GNP
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