An Increase in Nominal GDP Could Result from an Increase

question 48

Multiple Choice

An increase in nominal GDP could result from an increase in i.production.
Ii) prices.
Iii) subsidies.

• A)i only
• B)ii only
• C)i and iii
• D)i and ii
• E)i,ii and iii

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Definitions:

Ratio

An association between two values demonstrating the number of times the initial value encompasses the second.

Ratio

A relationship between two numbers indicating how many times the first number contains or is contained within the second.

Ratio

The quantitative relation between two amounts, showing the number of times one value contains or is contained within the other.

Equivalent Ratio

A ratio that has the same value when compared to another ratio, despite possibly having different terms.