If Real GDP Has Increased,which of the Following Statements Is

question 66

Multiple Choice

If real GDP has increased,which of the following statements is always true?

• A)Nominal GDP has increased.
• B)Output has increased.
• C)Prices have remained the same.
• D)Output might have decreased if prices have risen enough.

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Definitions:

Strawberries

A sweet, red, heart-shaped fruit that is widely enjoyed fresh, in desserts, or as a flavoring.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs, representing the trade-off between the two goods.

Efficient Production

A production process that operates at the lowest possible cost and produces the highest possible output with given resources and technology.

Production Possibility Frontier

A curve depicting the maximum feasible amounts of two goods that can be produced with available resources and technology.