Multiple Choice
According to the BEA, in the second quarter of 2012 nominal GDP rose by 3.3 percent and real GDP rose by 1.7 percent. The difference between the change in nominal GDP and the change in real GDP could be explained by
A) an increase in prices of final goods and services produced.
B) a decrease in prices of final goods and services produced.
C) an increase in quantity of final goods and services produced.
D) a decrease in quantity of final goods and services produced.
Correct Answer:
Verified
Correct Answer:
Verified
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