Suppose That Nominal GDP Fell from $5,000 Billion in 1997

Multiple Choice

Suppose that nominal GDP fell from $5,000 billion in 1997 to $4,800 billion in 1998. Suppose that over this same period real GDP did not change. In this instance:

A) price increased and quantity was constant.
B) price decreased and quantity was constant.
C) quantity increased and price was constant.
D) quantity decreased and price was constant.