Suppose That in 2010 Canada's Automobile Manufacturers Produced 2 Million

question 55

Multiple Choice

Suppose that in 2010 Canada's automobile manufacturers produced 2 million cars priced at $20 000 each. And in 2011 they produced 1 million cars priced at $40 000 each. Ceteris paribus, the change in nominal national income is

• A)an increase because the price of each car increased.
• B)a decrease because fewer cars were produced.
• C)insufficient information to know.
• D)no change in nominal national income.
• E)an increase because of inflation.

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Definitions:

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