In 2012, approximately what percent of the national debt was held by the Federal Reserve system?

Which of the following could cause nominal GDP to increase, but real GDP to decrease?

A) The price level falls and the quantity of final goods and services produced falls. B) The price level falls and the quantity of final goods and services produced rises. C) The price level rises and the quantity of final goods and services produced falls. D) The price level rises and the quantity of final goods and services produced rises.

In real business cycle models, a change in willingness to work ________

A) is associated with productivity shocks B) causes a shift of the aggregate demand curve C) would violate the market-clearing assumption D) has no effect on potential output