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Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469 Exercise 11
NOMINAL GDP Which of the following is a necessary condition-something that must occur-for nominal GDP to rise? Explain your answers.
a. Actual production must increase.
b. The price level must increase.
c. Real GDP must increase.
d. Either the price level or real GDP must increase as long as the other does not decrease.
e. Either the price level or real GDP must increase.
a. Actual production must increase.
b. The price level must increase.
c. Real GDP must increase.
d. Either the price level or real GDP must increase as long as the other does not decrease.
e. Either the price level or real GDP must increase.
Explanation
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Nominal GDP
Nominal GDP is the market v...
Economics 11th Edition by William McEachern
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