If the nominal GDP rises by 3 percent and the real GDP rises by 6 percent, then the price level ________ by ________ percent. A. rises; 9 B. rises; 6 C. falls; 9 D. rises; 3 E. falls; 3

If the nominal GDP rises by 3 percent and the real GDP rises by 6 percent, then the price level by percent. A. rises; 9 B. rises; 6 C. falls; 9 D. rises; 3 E. falls; 3

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Measuring A Nation's Income

Section: Chapter Questions

Problem 6CQQ

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Question

If the nominal GDP rises by 3 percent and the real GDP rises by 6 percent, then the price level ________ by ________ percent.

A.

rises; 9

B.

rises; 6

C.

falls; 9

D.

rises; 3

E.

falls; 3

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