Multiple Choice
A country reported a nominal GDP of $85 billion in 2010 and $100 billion in 2009.It also reported a GDP deflator of 100 in 2010 and 105 in 2009.Between 2009 and 2010,
A) real output and the price level both rose.
B) real output rose and the price level fell.
C) real output fell and the price level rose.
D) real output and the price level both fell.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: If real GDP is 5,100 and nominal
Q6: Which of the following statements about GDP
Q7: Which of the following is not a
Q8: If in some year nominal GDP was
Q9: Suppose an economy's production consists only of
Q11: Which of the following is the correct
Q12: If in some year nominal GDP was
Q13: If total spending rises from one year
Q14: Which of the following statements about nominal
Q15: If the prices of all goods and