Maurice Tutor

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Category > Management Posted 15 Nov 2017 My Price 4.00

real GDP and nominal GDP

3.5 Briefly explain whether you agree with the following statements.

a. “If nominal GDP is less than real GDP, then the price level must have fallen during the year.”

b. “Whenever real GDP declines, nominal GDP must also decline.”

c. “If a recession is so severe that the price level declines, then we know that both real GDP and nominal GDP

must decline.”

d. “Nominal GDP declined between 2008 and 2009; therefore, the GDP deflator must also have

declined.”

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Maurice Tutor
(5)
Status NEW Posted 15 Nov 2017 08:11 PM My Price 4.00

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