Suppose Nominal GDP in Canada Increased by 5% in 2013

question 310

Multiple Choice

Suppose nominal GDP in Canada increased by 5% in 2013. Given this information, we know with certainty that

• A) the aggregate price level in Canada increased in 2013.
• B) real GDP in Canada increased in 2013.
• C) both the aggregate price level AND real GDP increased in Canada in 2013.
• D) more information is needed to answer this question.

---

Definitions:

Formal Group

A group formed by an organization with structured and defined roles for the purpose of achieving specific goals or tasks.

Cohesive Group

A group in which members exhibit a strong sense of belonging and a high level of motivation to stay part of the group, often resulting in more effective teamwork.

Developmental

Pertains to the process of growth or advancement through progressive stages.

Synergy

The enhanced effect achieved when multiple elements, organizations, or individuals work together, producing a result greater than the sum of their separate effects.