If nominal GDP rises: real GDP must fall. real GDP must also rise. real GDP may either rise or fall. we can be certain that the price level has risen.
If nominal GDP rises: real GDP must fall. real GDP must also rise. real GDP may either rise or fall. we can be certain that the price level has risen.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 14QP
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