Solved

Assume the Table Shown Displays the Total Output and Prices

Question 100

Multiple Choice

Assume the table shown displays the total output and prices of the only two goods produced in a small economy. Assume the table shown displays the total output and prices of the only two goods produced in a small economy. Looking at the changes in real GDP and nominal GDP from 2017 to 2018, because real and nominal GDP increased at the same rate, we can conclude that: A) there was no change in prices, only output. B) prices increased C) only the production of footballs increased. D) there was no change in output, only prices. Looking at the changes in real GDP and nominal GDP from 2017 to 2018, because real and nominal GDP increased at the same rate, we can conclude that:


A) there was no change in prices, only output.
B) prices increased
C) only the production of footballs increased.
D) there was no change in output, only prices.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q95: What are U.S. exports?<br>A) U.S. goods sold

Q96: The size of the underground economy is

Q97: Which of the following is not a

Q98: The sum of all the money people

Q99: Sally is a U.S. citizen who works

Q101: A period of significant decline in economic

Q102: You purchase a bag of chocolate chips

Q103: The GDP growth rate:<br>A) is a measure

Q104: Goods or services traded on the black

Q105: Ted is moving into his first apartment.