What is the correct option for number 13 Question Completion Status:D30 40 520QUESTION 1360 7080913100 110 12014150 160 170 18Which statement best describes the increases of real consumption of goods and services?O Consumption of goods has grown slower than consumption of services, especially after the COVID-19 PandemicO Consumption is growing the same for goods and servicesConsumption of goods has grown faster than consumption of services, especially after the COVID-19 PandemicO Neither goods nor services consumption has changed, even after the COVID-19 PandemicQUESTION 14Using microeconomic reasoning about supply and demand, what is the most likely explanation for the relationship betwtime?O Firms that produce services are going out of business more often than firms that produce goodsO The government is encouraging consumers to buy more goodsO Changes in the relative prices of goods and services are associated with changes in the relative demand for goods aO People tend to change the degree to which they prefer goods over services from time to time

Nominal consumption is the actual spending of money on goods and services and is not adjusted for…

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QUESTION 13 Which statement best de O Consumption of goo Consumption is grow O Consumption of goc O Neither goods nor s

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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