If real GDP is greater than nominal GDP for a particular year, then
A) production must have fallen between the current year and the base year.
B) production must have increased between the current year and the base year.
C) prices must have fallen between the current year and the base year.
D) prices must have risen between the current year and the base year.
E) prices must have fallen between the current year and the immediate past year.
Question 2
People debate whether or not the U.S. should allow for greater oil exploration in Northern Alaska. According to the economic way of thinking, the debate is rooted in
A) different perceptions about the additional benefits and the additional costs of oil exploration in Northern Alaska.
B) a complete lack of appreciation of the value of wildlife and the ecology of Northern Alaska.
C) a complete lack of appreciation of the value of oil in world affairs.
D) politics rather than economics.
projections of future oil production
Role of Factors of Production in Determining Growth, 1975–2009
Production of ATP in Skeletal Muscle
essay on friendship written by a 10-year-old