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Table 19-16 -Refer to Table 19-16

Question 54

Multiple Choice

Table 19-16
20152016 Nominal GDP $10,000$12,000 Real GDP 9,50010,500\begin{array} { | l | r | r | } \hline & \mathbf { 2 0 1 5 } & \mathbf { 2 0 1 6 } \\\hline \text { Nominal GDP } & \$ 10,000 & \$ 12,000 \\\hline \text { Real GDP } & 9,500 & 10,500 \\\hline\end{array}
-Refer to Table 19-16.Given the information above,what can we say has happened in the economy from 2015 to 2016?


A) The price level has fallen.
B) The price level has risen.
C) The price level has remained constant.
D) Not enough information is available to determine what has happened to prices.

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