If real GDP and the GDP deflator both rise, then it must be that nominal GDP rose

a. True
b. False
Indicate whether the statement is true or false

True

Economics

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The above figure shows the cost curves for a typical firm in a competitive market. Note that if p = 10, then MC = p at both q = 5 and q = 60. Can they both yield maximum profit? Explain

What will be an ideal response?

Economics

The change in the unemployment rate is approximately equal to

A) the negative of the growth rate of output. B) the negative policy rate. C) the negative inflation rate. D) the negative of the growth rate of money supply.

Economics