Multiple Choice
Suppose that an economy's output does not change from one year to the next, but the price level doubles. What happens to nominal GDP?
A) Nominal GDP doubles.
B) Nominal GDP is halved.
C) Nominal GDP doesn't change.
D) There is not enough information to determine what happens to nominal GDP.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: If nominal GDP increases from one year
Q48: Which of the following statements is accurate
Q49: Which of the following statements about price
Q50: China's GDP per person in 2017 was
Q51: Which among the following countries had the
Q53: Investment is ultimately limited by the amount
Q54: Rapid and sustained economic growth of nations<br>A)
Q55: High rates of unemployment<br>A) indicate that society
Q56: In macroeconomic models, prices are assumed to
Q57: If nominal GDP is rising faster than