Author Question: Nominal GDP will always equal real GDP: a. if prices are declining. b. in the base year. c. if ... (Read 64 times)

moongchi · **on:** Jun 30, 2018

Nominal GDP will always equal real GDP:
a. if prices are declining.
b. in the base year.
c. if prices are increasing.
d. if the economy's total production does not change.

Question 2

At the point where consumption equals disposable income, the average propensity to consume equals 1.
a. True
b. False
Indicate whether the statement is true or false