Which of the following is a necessary condition something that must occurfor nominal GDP to rise? Explain
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Which of the following is a necessary condition —something that must occur—for nominal GDP to rise? Explain your answers.
- Actual production must increase.
- The price level must increase.
- Real GDP must increase.
- Either the price level or real GDP must increase as long as the other does not decrease.
- Either the price level or real GDP must increase.
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The necessary condition for nominal GDP to rise is either the price level or real GDP must increase Explanation Actual production must increase While ...View the full answer
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Related Book For 
Economics A Contemporary Introduction
ISBN: 9781305505469
11th Edition
Authors: William A. McEachern
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