Multiple Choice
If nominal GDP increases by 4 percent, then
A) real output has increased by 4 percent
B) the price level has increased by 4 percent
C) consumer spending must have increased by 4 percent
D) it is possible that all of the increase was caused by an increase in the price level
E) net exports increased by 4 percent
Correct Answer:
Verified
Correct Answer:
Verified
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