Nominal gross domestic product is based on the existing prices at ...

[skymedlock]

Nominal gross domestic product is based on the existing prices at which final goods are actually sold.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

In the vertical segment of the aggregate supply curve,
 a. different levels of GDP correspond with high unemployment.
  b. competition among producers for already-employed resources can succeed only in lowering the economy's price level.
  c. full employment is achieved.
  d. producers are able to hire more workers at lower wages.
  e. increases in GDP are due solely to production gains.

[ashely1112]

Answer to Question 1

True

Answer to Question 2

c