If nominal retail sales increase then Select one: a. real retail sales must also have increased. b. real retail sales and retail prices have increased. c. one of real retail sales and retail prices have increased. d. retail prices must have increased.
If nominal retail sales increase then Select one: a. real retail sales must also have increased. b. real retail sales and retail prices have increased. c. one of real retail sales and retail prices have increased. d. retail prices must have increased.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
If nominal retail sales increase then
Select one:
a.
real retail sales must also have increased.
b.
real retail sales and retail prices have increased.
c.
one of real retail sales and retail prices have increased.
d.
retail prices must have increased.
Expert Solution

Step 1
Meaning of Retail Sales:
Here, the term retail sales are all about selling various commodities products according to the consumers' demand, thus it estimates the aggregate level of sales in an economy during a particular period of time.
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