If Nominal GDP Rises from One Year to the Next

question 131

Multiple Choice

If nominal GDP rises from one year to the next, then

• A) the economy must be producing a larger output of goods and services.
• B) prices at which goods and services are sold must be higher.
• C) either output, or the general level of prices, or both must be rising.
• D) employment and productivity must be rising.

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Definitions:

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An initial approval indicating a customer may qualify for certain loans or credit cards, usually based on a preliminary credit information review.

Gross Annual Income

Gross Annual Income refers to the total amount of income earned in a year before any deductions are made, such as taxes and retirement contributions.

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