Prices is higher than nominal GDP

Assignment Help Business Economics

Reference no: EM131005056

If real GDP in 2004 using 2003 prices is higher than nominal GDP of 2004, then

a. real GDP in 2004 is larger than real GDP in 2003.

b. prices in 2004 are higher than prices in the base year.

c. nominal GDP in 2004 equals nominal GDP in 2003.

d. prices in 2004 are lower than prices in the base year.

Reference no: EM131005056

Questions Cloud

What amount does fedex report in its balance sheet : What amount does FedEx report in its balance sheet for its pension and other postretirement benefit plans? Explain.

Write negative binary numbers in sign and magnitude : The first part of this unit introduces the material to be studied later. In addition to getting an overview of the material in the first part of the course, you should be able to explain the difference between analog and digital systems and why dig..

Private insurance raises issues of adverse selection : Private insurance raises issues of adverse selection and moral hazard. Consider insurance that compensates professional athletes for injuries that result in lost income. Illustrate how adverse selection could be a problem for this type of insurance. ..

Write one page writing about the muslims in burma : Write one page writing about the Muslims in Burma............APA format

Prices is higher than nominal GDP : If real GDP in 2004 using 2003 prices is higher than nominal GDP of 2004, then

After the first full year under the warehouse lease : After the first full year under the warehouse lease, what is the carrying amount (after accumulated depreciation) of Dowell's leased warehouses?

Understanding of marginal and incremental analysis : Spending by the consumer sector is the driving force in the US economic system. Although the business and government sectors make a considerable contribution to the success of the economy, it is the spending by the consumer or household sector of the..

Saving and investment affect the current account balance : How does the relationship between saving and investment affect the current account balance? What is the connection between the government’s budget deficit and the current account deficit?

Explain what happens to consumption-investment-interest rate : Explain what happens to consumption, investment, and the interest rate when the government increases tax rates (but keeps government expenditures constant). How does the size of the MPC affect the outcome?

User Account

All Pages