If the quantity of output produced remains unchanged between 2018 and 2028 but the price of allgoods falls by 10% over this period, what can we say about the period from 2018 to 2028? 1.The percentage change in real GDP will be larger than the percentage change in nominal GDP 2.We cannot compare changes in nominal GDP to changes in real GDP without further information 3.The percentage change in nominal GDP will be larger than the percentage change in real GDP 4.The percentage change in nominal GDP will equal the percentage change in real GDP
If the quantity of output produced remains unchanged between 2018 and 2028 but the price of allgoods falls by 10% over this period, what can we say about the period from 2018 to 2028? 1.The percentage change in real GDP will be larger than the percentage change in nominal GDP 2.We cannot compare changes in nominal GDP to changes in real GDP without further information 3.The percentage change in nominal GDP will be larger than the percentage change in real GDP 4.The percentage change in nominal GDP will equal the percentage change in real GDP
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 9WNG
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If the quantity of output produced remains unchanged between 2018 and 2028 but the price of allgoods falls by 10% over this period, what can we say about the period from 2018 to 2028?
1.The percentage change in real
2.We cannot compare changes in nominal GDP to changes in real GDP without further information
3.The percentage change in nominal GDP will be larger than the percentage change in real GDP
4.The percentage change in nominal GDP will equal the percentage change in real GDP
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