Multiple Choice
According to the BEA, in the second quarter of 2011 nominal GDP was $15 trillion and in the second quarter of 2012 nominal GDP was $15.6 trillion. Based solely on this information, from the second quarter of 2011 to the second quarter of 2012
A) real GDP may have increased, decreased, or stayed the same.
B) real GDP definitely increased.
C) real GDP definitely decreased.
D) prices definitely increased.
Correct Answer:
Verified
Correct Answer:
Verified
Q287: What would happen to measured GDP if
Q288: If we compare the four sources of
Q289: Business cycles<br>A) are more volatile during a
Q290: Which of the following statements is TRUE?<br>A)
Q291: When gross investment is greater than depreciation,
Q293: The following data describe France's economy in
Q294: Purchasing power parity prices are used to
Q295: In the national income accounts, government expenditure
Q296: The circular flow diagram shows<br>A) how nominal
Q297: Total output and total income in the