A Fixed or Rigid Price Level Implies

question 132

Multiple Choice

A fixed or rigid price level implies

• A)that income is fixed.
• B)real GDP is greater than nominal GDP.
• C)nominal GDP is less than real GDP.
• D)real GDP equals nominal GDP.

---

Definitions:

Time Wages

Compensation paid to an employee based on the amount of time worked, typically expressed as an hourly rate.