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Author Question: If both real GDP and nominal GDP of a country increased at the same rate in a particular year, which ... (Read 45 times)

Mr. Wonderful

  • Hero Member
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  • Posts: 866
on: Jun 30, 2018
If both real GDP and nominal GDP of a country increased at the same rate in a particular year, which of the following is most likely to have taken place?
 a. Output increased and the price level increased
  b. Output increased and the price level decreased
  c. Output decreased and the price level increased
  d. Output decreased and the price level decreased
  e. Output increased and the price level remained constant

Question 2

If nominal GDP of a country increased and real GDP remained unchanged in a particular year, which of the following is most likely to have taken place?
 a. Output increased and the price level increased
  b. Output increased and the price level decreased
  c. Output remained constant and the price level increased
  d. Output decreased and the price level decreased
  e. Output increased and the price level remained constant


ciecieme

  • Sr. Member
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  • Posts: 331
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

c


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