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Final goods and services produced

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Suppose that the total market value of all the final goods and services produced in the country of GDPLAND is $34 billion in 2008 ( measured in 2008 prices ) and $36 billion in 2009 ( measured in 2009 prices ). Which of the following statements is definitely correct?

(a) Production increased in GDPLAND between 2008 and 2009

(b) Average price levels increased in GDPLAND between 2008 and 2009

(c) Nominal GDP increased in GDPLAND between 2008 and 2009

(d) Real GDP increased in GDPLAND between 2008 and 2009

Reference no: EM131399195

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