Multiple Choice
If nominal GDP of 2012 was higher than nominal GDP of 2011:
A) production in 2012 was higher than production in 2011, while prices remained unchanged.
B) production or prices or both were higher in 2012 than in 2011.
C) prices in 2012 were higher than prices in 2011, while production remained unchanged.
D) production in 2012 went down and prices increased.
Correct Answer:
Verified
Correct Answer:
Verified
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