Solved

If the Quantity of Goods and Services Produced in the Economy

Question 53

Multiple Choice

If the quantity of goods and services produced in the economy decreases,


A) it may be possible for real GDP to increase.
B) real GDP would certainly increase.
C) it may be possible for nominal GDP to increase.
D) nominal GDP would certainly increase.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q48: Table 8-18<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Table 8-18

Q49: Value added equals the market price of

Q50: The GDP deflator is the<br>A)difference between real

Q51: Table 8-18<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Table 8-18

Q52: The informal sector can be a significant

Q54: If nominal GDP rises we can say

Q55: Caroline is an artist.She purchases canvases,paints,brushes,and accessories

Q56: Since real GDP is adjusted for inflation

Q57: Suppose Bob works for Mary as a

Q58: If prices are rising on average,then<br>A)real GDP