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If total spending rises from one year to the next, then the economy must be producing a larger output of goods and services. a. true b. false

Respuesta :

True, If total spending rises from one year to the next, then the economy must be producing a larger output of goods and services.

If nominal GDP rises from one year to the next, what does that mean?

  • Changes in prices and changes in quantity both contribute to the nominal GDP's annual growth.
  • the market value of completed products and services calculated using prices from the base year.

What does nominal GDP mean?

  • A measure of economic output in an economy that accounts for current prices is called nominal GDP.
  • The rate of price increases and inflation, which can inflate the growth rate, are not taken into account.

Learn more about GDP

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