Normally in the United States the relationship between nominal and real GDP for a given year is
A) real GDP is greater than nominal GDP because of price increases.
B) nominal GDP is greater than real GDP because of price increases.
C) nominal GDP equals real GDP.
D) nominal GDP is greater than real GDP because of price decreases.
B
Economics
You might also like to view...
Which of the following is NOT an assumption of the initial Cournot Oligopoly Model?
A) Market lasts for only one period. B) Firms act simultaneously. C) Firms have same cost functions. D) Firms produce differentiated products.
Economics
To offset the effect of a steep rise in net exports on the economy, the government might: a. increase government purchases. b. decrease government purchases. c. increase taxes
d. both (b) and (c) above
Economics