Multiple Choice
Suppose the total market value of all the final goods and services produced in the country of Cannedada was $4 billion in 2008 (measured in 2008 prices) and $5 billion in 2009 (measured in 2009 prices) .Which of the following statements is definitely correct?
A) Production increased in Cannedada between 2008 and 2009.
B) Average price levels increased in Cannedada between 2008 and 2009.
C) Nominal GDP decreased in Cannedada between 2008 and 2009.
D) The change in real GDP cannot be determined without more information.
Correct Answer:
Verified
Correct Answer:
Verified
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