Suppose That Over a Given Time Period Nominal GDP Rises

Multiple Choice

Suppose that over a given time period nominal GDP rises by 6 percent and real GDP rises by 4 percent. Over this period, we know that:

A) the quantity of goods and services produced fell while prices increased.
B) the quantity of goods and services produced increased while prices fell.
C) both the quantity of goods and services produced and prices increased.
D) both quantity of goods and services produced and prices fell.