What Likely Occurred During 2012 If Nominal GDP Did Not

Multiple Choice

What likely occurred during 2012 if nominal GDP did not change and real GDP decreased,relative to the year 2011?

A) Total production of goods and services in the economy did not change in 2012.
B) The economy experienced deflation during 2012.
C) The price level did not change during 2012.
D) Total production of goods and services in the economy declined during 2012.