If nominal GDP rises from one year to the next, then
a. the economy must be producing a larger output of goods and services.
b. prices at which goods and services are sold must be higher.
c. either output, or the general level of prices, or both must be rising.
d. employment and productivity must be rising.
C
Economics
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Laffer curve
What will be an ideal response?
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One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would
A) contain communism. B) help countries avoid the mistakes of the 1920s and 1930s. C) provide a collective defense security for Western Europe and North America. D) ensure that world prices were not rising too rapidly. E) create a single currency in Western Europe.
Economics