If real GDP declines in a given year, nominal GDP:
A. Must also be declining
B. Must also be increasing
C. May either rise or fall
D. Is likely to remain constant
C. May either rise or fall
Economics
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As a firm in monopolistic competition sets the price for its product, the firm faces a tradeoff between
A) supply and demand. B) efficiency and equity. C) internal and external economies of scale. D) price and the quantity it can sell. E) its marginal revenue and its price.
Economics
The United States' economy was most depressed in
A. 1923. B. 1933. C. 1943. D. 1953.
Economics