If real GDP in 2016 (using 2009 prices) is lower than nominal GDP of 2015, then
A) prices in 2016 are higher than prices in 2015.
B) prices in 2016 are lower than prices in 2015.
C) real GDP in 2016 is larger than real GDP in 2015.
D) nominal GDP in 2016 equals nominal GDP in 2015.
B
Economics
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The diagram suggests that:
A. X and Y are both inferior goods.
B. X and Y are both normal goods.
C. X and Y are substitute goods.
D. X and Y are independent goods.
Economics
Mass production is possible only if there is also __________________________.
Fill in the blank(s) with the appropriate word(s).
Economics