If the quantity of goods and services produced in the economy decreases,
A) real GDP would certainly increase. B) nominal GDP would certainly increase.
C) it may be possible for nominal GDP to increase. D) it may be possible for real GDP to increase.
C
Economics
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Producer surplus measures the difference between total revenues and fixed cost
a. True b. False
Economics
In monopolistically competitive markets, economic profits ____, and ____ shifts the demand curve of the remaining firms to the ____
a. signal some remaining firms to exit; exit; right b. signal some remaining firms to exit; exit; left c. signal new firms to enter; entry; left d. signal new firms to enter; entry; right
Economics