Real GDP changes when
A) all prices change by the same proportion, but all outputs remain constant.
B) some but not all prices change, but outputs remain constant.
C) some outputs change, but prices remain constant.
D) Both B and C.
D
Economics
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The movement of the budget line from BB to bb in the above figure suggests that income has:
A) increased and the price of X has decreased. B) fallen and the price of Y has increased. C) fallen and the price of X has decreased. D) decreased but there have been no price changes.
Economics
The slope of the consumption function equals the marginal propensity to consume
a. true b. false
Economics