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:

Bloomingdale's

Bloomingdale's is a luxury department store chain in the United States known for offering high-end fashion apparel, accessories, and home goods.

Macy's

An American department store chain known for its wide range of consumer goods, including clothes, accessories, and home products.

Corporate Chain

A series of connected businesses that operate under a parent company or brand.

Form Of Ownership

The legal and structural configuration of an organization, determining aspects like liability, taxation, and decision-making processes (e.g., sole proprietorship, partnership, corporation).