Multiple Choice
Suppose nominal GDP in 2011 increased by 5% (over its previous level in 2010) . Given this information, we know with certainty that:
A) real GDP increased during 2010.
B) either the price level or real GDP increased during 2010.
C) both the price level and real GDP increased during 2010.
D) the price level increased during 2010.
E) more information is needed to answer this question.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: Suppose an individual wishes to provide a
Q24: Changes in aggregate output in the short
Q25: A decrease in the unemployment rate will
Q26: In a given year, suppose a company
Q27: Which of the following calculations will yield
Q29: First, what do discouraged workers represent? Second,
Q30: Explain the empirical relation known as Okun's
Q31: Prices for which of the following are
Q32: Hedonic pricing is used to:<br>A) obtain chain-
Q33: Which one of the following represents an