Author Question: If real GDP increases and the price index also increases: a. nominal GDP must also have risen. b. ... (Read 141 times)

strangeaffliction · **on:** Jun 30, 2018

If real GDP increases and the price index also increases:
a. nominal GDP must also have risen.
b. nominal GDP must have fallen.
c. nominal GDP could have either risen or fallen.
d. the percentage increase in nominal GDP must have been greater than the percentage increase in the price level.

Question 2

Villagers in Xiaogang, China, produced more rice than those in surrounding villages because:
a. they had better farmland.
b. they were given better seeds.
c. they were able to keep the output they produced individually.
d. they made each family responsible for a certain, higher quota of rice production.
e. they had common ownership over the rice produced.