Author Question: When real GDP declines in a particular year, nominal GDP: a. will decline at a faster rate than ... (Read 71 times)

panfilo · **on:** Jun 30, 2018

When real GDP declines in a particular year, nominal GDP:
a. will decline at a faster rate than real GDP if there is inflation.
b. will decline at a slower rate than real GDP if there is inflation.
c. may increase or decrease if there is inflation.
d. will increase if there is deflation.

Question 2

One of the reasons communism failed was because:
a. governments ran out of money.
b. workers received the same pay whether or not they worked hard.
c. there was no unemployment.
d. Mao Zedong passed away.
e. technological improvements were impossible in a communist economy.