Suppose a small economy produces only HDTV sets. In year one, 100,000 sets are produced and sold at a price of $1,200 each. In year two, 100,000 sets are produced and sold at a price of $1,000 each. As a result, Multiple Choice
a. nominal GDP and real GDP both decrease. nominal GDP decreases,
b. while real GDP stays constant. nominal GDP stays constant,
c. while real GDP decreases.
d. nominal GDP decreases, and real GDP decreases even more.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose a small economy produces only HDTV sets. In year one, 100,000 sets are produced and sold at a price of $1,200 each. In year two, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A publishing firm believes in providing continuous feedback to employees regarding their work. Newly hired employees are assigned a mentor who works in their team.
Answers (2)
Assuming individuals hold no currency, calculate the simple money multiplier for each of the following reserve ratios: a. 4 percentb. 12 percentc. 18 percentd. 26 percente. 30 percent:
Answers (1)
The trees these moths used to live on were white, but have been covered in soot from coal factories. Which moth will be more successful in this environment? Dark mothLight mothBoth will be equally successfulNeither will be successful
Answers (1)
What does liquidity refer to?
Answers (1)
Which of the following four companies will have the lowest carrying value on their bonds if they decide to redeem their bonds before the maturity date?
Answers (1)
New Questions in Business
Ashton Bank knows that its customer, Juan, has died. One day after Juan's death, Ashton Bank was presented a check for clearing of $3,000. The check was written by Juan a week prior to his death to Bailey Enterprises.
Answers (1)
Which of the following may be true for a company pursuing a strategy of unrelated diversification rather than a strategy of related diversification? a. The company has to achieve coordination between business units. b.
Answers (1)
Private markets fail to reach a socially optimal equilibrium when positive externalities are present because the A. private cost exceeds the private benefit at the private market solution. B.
Answers (1)
You also remember that research shows: Smaller teams have lower levels of rapport than larger teams As a team decreases in size, it becomes harder for members to interact Smaller teams are more focused on team goals than larger teams As a team
Answers (1)
A game developer is purchasing a computing device to develop a game and recognizes the game engine software will require a device with high-end specifications that can be upgraded.
Answers (2)