real value will increase only when prices increase. Select one: True False If the real value for manufacturing sales increases then the nominal value must also have increased. Select one: True False If nominal GDP is rising faster than real GDP then prices must be rising. Select one: True

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 6SCQ: The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the...
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A real value will increase only when prices increase.
Select one:
True
False
If the real value for manufacturing sales increases then the nominal value must also have increased. 
Select one:
True
False
If nominal GDP is rising faster than real GDP then prices must be rising. 
Select one:
True
False
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