If prices are rising on average, then
A) real GDP will be less than nominal GDP in the years before the base year.
B) real GDP will be greater than nominal GDP in the years after the base year.
C) real GDP will always be equal to nominal GDP.
D) real GDP will be greater than nominal GDP in the years before the base year.
Question 2
By drawing a demand curve with ________ on the vertical axis and ________ on the horizontal axis, economists assume that the most important determinant of the demand for a good is the ________ of the good.
A) quantity; price; quantity B) quantity; price; price
C) price; quantity; price D) price; quantity; quantity
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