True/False
If nominal GDP in 2011 is greater than nominal GDP in 2010, the economy's real output of goods and services must have risen.
Correct Answer:
Verified
Correct Answer:
Verified
Q18: Using the expenditure approach to GDP accounting,
Q19: Inflation that causes an increase in the
Q20: If nominal GDP rises:<br>A)we can be sure
Q21: Exhibit 11-1<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 11-1
Q22: Depreciation is:<br>A)income earned but not received.<br>B)an allowance
Q24: GDP excludes:<br>A)business purchases of investment goods, such
Q25: The formula for calculating real GDP =
Q26: Why has nominal GDP increased historically more
Q27: Exhibit 11-1<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 11-1
Q28: National income:<br>A)is a measure of the income