If Nominal GDP Increases from One Year to the Next,then

question 123

Multiple Choice

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

• A)production must have increased.
• B)production could have increased,decreased,or stayed the same.
• C)prices must have increased.
• D)prices and production must both have increased.
• E)prices and production must both have decreased.

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Definitions:

Net Income

The total earnings of a company after subtracting all expenses from revenues, including taxes and interest.