When the value of nominal GDP increases from one year to the next, we know that one or two things must have happened during that time:
A) The nation produced fewer goods and services and/or prices fell for goods and services.
B) Consumption expenditure increased and/or corporate profits increased.
C) Investment increased and/or payments to employees increased.
D) The nation produced more goods and services and/or prices rose for goods and services.
E) the value of real GDP must have increased and/or the price level must have decreased.
Question 2
The market implications of taste-based discrimination were in part developed by:
A) Gary Becker.
B) Amartya Sen.
C) Simon Kuznets.
D) Paul Samuelson.
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