Can nominal GDP decrease when the price level remains the same?
A) No, it is not possible.
B) Yes, but only if real GDP decreases.
C) Yes, but only if real GDP increases.
D) Yes, but only if real GDP remains the same as well.
B
Economics
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The main sources of cost-push inflation are increases in
A) the money wage rate and the price of raw materials. B) the real wage rate and the price of raw materials. C) the money wage rate and aggregate demand. D) the quantity of money and the real wage rate. E) government expenditure and the quantity of money.
Economics
Britain imports some goods and exports other goods primarily because of:
A) free goods. B) specialization. C) unemployment. D) self-sufficiency.
Economics