Shifting from production of civilian goods to defense goods during World War II caused
a. a decline in civilian goods prices
b. an increase in the demand for civilian goods
c. a dramatic increase in the prices of civilian goods
d. the government to impose price floors for civilian goods
e. the government to impose price ceilings on defense goods
c. a dramatic increase in the prices of civilian goods
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Any adult who does not have a job is counted as unemployed
a. True b. False Indicate whether the statement is true or false
If both real GDP and nominal GDP of a country increased at the same rate in a particular year, which of the following is most likely to have taken place?
a. Output increased and the price level increased b. Output increased and the price level decreased c. Output decreased and the price level increased d. Output decreased and the price level decreased e. Output increased and the price level remained constant