An increase in the amount of capital in the economy will shift the demand curve for labor to the left.
Indicate whether the statement is true or false
Question 2
Which of the following statements correctly highlights a difference between real GDP and nominal GDP?
A) Real GDP includes the value of goods and services produced by foreign firms, while nominal GDP does not.
B) Real GDP strips out the effect of changing prices on the value of goods and services produced, while nominal GDP does not.
C) Real GDP includes the value of goods and services produced by domestic firms in foreign countries, while nominal GDP does not.
D) Real GDP does not take into account the value of goods produced and also services provided, while nominal GDP takes these into account.