Multiple Choice
Nominal GDP increased from $14.0 trillion to $14.7 trillion,and the price level increased from 120 to 126.Which of the following is true?
A) Output grew faster than the price level.
B) Output grew slower than the price level.
C) Real GDP grew faster than nominal GDP.
D) Output grew at the same rate as the price level.
E) Real GDP grew at the same rate as nominal GDP.
Correct Answer:

Verified
Correct Answer:
Verified
Q55: Arguably there are three reasons why the
Q63: Net exports can be defined as<br>A) exports
Q91: Farmer John produces oranges.He sells half of
Q92: From 1950 through 2012,what happened to the
Q93: Michael Chang buys only tennis rackets during
Q94: The difference between nominal GDP and real
Q95: You know that the consumer price index
Q98: Refer to the following figure when answering
Q99: Based on the weight of the consumer
Q143: What is the difference between a discouraged