Multiple Choice
Suppose real estate prices rise by 40% in a four-year period, while goods and services rise in price by 8% in the same time period.Population, the stock of houses, and other variables important to real estate prices have remained almost constant.Which of the following is most likely?
A) Real wealth has increased
B) Nominal wealth has declined
C) Asset inflation has occurred
D) GDP has increased by about 40% over the four-year period
Correct Answer:
Verified
Correct Answer:
Verified
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