A fixed or rigid price level implies

A) that income is fixed.
B) real GDP is greater than nominal GDP.
C) nominal GDP is less than real GDP.
D) real GDP equals nominal GDP.

D

Economics

You might also like to view...

Explain the proposition known as Ricardian equivalence

What will be an ideal response?

View
Economics

The minimum point on the average variable cost curve is called the loss-minimizing point

Indicate whether the statement is true or false

View
Economics