When nominal GDP rises, we can be certain that... a) prices must have risen b) both prices and quantities of goods and services must have risen c) quanties of goods and services produced must have risen d) either prices or quantites of goods and services must have risen

When nominal GDP rises, we can be certain that... a) prices must have risen b) both prices and quantities of goods and services must have risen c) quanties of goods and services produced must have risen d) either prices or quantites of goods and services must have risen

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter13: Measuring The Economy's Performance

Section: Chapter Questions

Problem 10AA

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Question

When nominal GDP rises, we can be certain that...

a) prices must have risen

b) both prices and quantities of goods and services must have risen

c) quanties of goods and services produced must have risen

d) either prices or quantites of goods and services must have risen

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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