Suppose the Nominal GDP Rose in the Third Quarter of 2008

question 33

Multiple Choice

Suppose the nominal GDP rose in the third quarter of 2008 (from the second quarter) .Yet, real GDP fell in the third quarter of 2008.What could have accounted for this?

• A)It is due to the fall in the economy's price level over the second and third quarters of 2008.
• B)It is due to an increase in the economy's price level over the second and third quarters of 2008.
• C)Output must have increased by a greater rate than the increase in the economy's price level.
• D)There must have been a statistical error in the computations.

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