20. If both the production of goods and services increase and prices rise, then the change in nominal GDP a. either understates or might accurately reflect the change in production. b. More information is needed to determine how the change in nominal GDP compares to the change in production. c. definitely accurately reflect the change in production. d. definitely overstates the change in production. e. definitely understates the change in production
20. If both the production of goods and services increase and prices rise, then the change in nominal GDP a. either understates or might accurately reflect the change in production. b. More information is needed to determine how the change in nominal GDP compares to the change in production. c. definitely accurately reflect the change in production. d. definitely overstates the change in production. e. definitely understates the change in production
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 5PA
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20. If both the production of goods and services increase and prices rise, then the change in nominal GDP
a. either understates or might accurately reflect the change in production.
b. More information is needed to determine how the change in nominal GDP compares to the change in production.
c. definitely accurately reflect the change in production.
d. definitely overstates the change in production.
e. definitely understates the change in production.
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