Multiple Choice
A country reported nominal GDP of $200 billion in 2007 and $180 billion in 2006, and reported a GDP deflator of 125 in 2007 and 105 in 2006. What happened to real output and prices from 2006 to 2007?
A) Real output and prices both rose.
B) Real output rose and prices fell.
C) Real output fell and prices rose.
D) Real output and prices both fell.
Correct Answer:
Verified
Correct Answer:
Verified
Q6: In 2008 what was, approximately, GDP per
Q7: Which of the following is included in
Q9: Suppose that an apartment complex converts to
Q11: Which of these would be included in
Q14: Over the past few decades Canadians have
Q77: If nominal GDP is $1 trillion and
Q91: How are nominal GDP and real GDP
Q126: An Italian company opens a pasta company
Q151: What does personal income include and exclude?<br>A)
Q169: A professional gambler moves from a province