If nominal GDP increases by 2 percent and the price level drops by 1 percent, real GDP:
A. increases by 3 percent.
B. increases by 1 percent.
C. decreases by 1 percent.
D. decreases by 3 percent.
Answer: A
Economics
You might also like to view...
Over the past 50 years, the largest increase in average real wage has occurred among ________
A) male college graduates B) female college graduates C) males with post-college education D) females with post-college education
Economics
A good bit of management jargon often simply symbolizes fundamental economic analysis
Indicate whether the statement is true or false
Economics