Nominal GDP increases from year 1 to year 2. Therefore: a.) We produced more goods and services

Fantastic news! We've Found the answer you've been seeking!

Question:

Nominal GDP increases from year 1 to year 2. Therefore:

a.) We produced more goods and services in year 1

b.) We produced more goods and services in year 2

c.) It is not possible to determine in which year we produced a greater quantity of goods and services

Related Book For answer-question

Fundamentals of Physics

ISBN: 978-0471758013

8th Extended edition

Authors: Jearl Walker, Halliday Resnick

See More Books

Posted Date: Feb 21, 2019 12:23 AM

See More Questions

The sketch shows the top view of a sled that is towed over the ice by fastening a cable to hook C. Force F is the tensile force applied to the tow cable at its free end P; its magnitude and direction...
It is not possible to see very small objects, such as viruses, using an ordinary light microscope. An electron microscope can view such objects using an electron beam instead of a light beam....
Assume sales remain constant from Year 1 to Year 2 and return on sales (ROS) increases from Year 1 to Year 2. Identify two reasons why the return on sales ratio might increase from Year 1 to Year 2.
Among the ledger accounts used by Glenwood Speedway are the following: Prepaid Rent, Rent Expense, Unearned Admissions Revenue, Admissions Revenue, Prepaid Printing, Printing Expense, Concessions...
A 1.0-mm-diameter wire is maintained at a temperature of 400C and exposed to a convection environment at 40C with h = 120 W/m2 C. Calculate the thermal conductivity that will just cause an...
Ted Noolan, managing partner of Noolan Business Consulting, is preparing a budget for January 2018, the first month of business operations. Ted estimates the following monthly selling and...
What rules apply to service and filing of pleadings?
Analyzing sales price and fixed cost using the equation method Tainan Company is considering adding a new product. The cost accountant has provided the following data. The administrative vice...
How have Tim Hortons and Starbucks changed their model to adapt to the current times?
The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is as follows: Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a....
Let C be the curve y = 9x for 0x 2.3. 99 88- 77- 66- 55- 44- 33 22 11 0.5 1 1.5 2
The network diagram for the project to create logical e-mail groups has three paths that have a duration of 29 days and two paths that have a duration of 10 days, respectively, the longest and...
The team has had five meetings to decompose the work of the aircraft carrier project. They are making progress and in a few more meetings should have all the decomposition complete for the multi-year...
The software company is working with a staffing company to provide a technical writer for its newest project, accounting software for contractors and small businesses. The staffing company will...
Sheryl is cooperative, forgiving and understanding. She has high __________. a. agreeableness b. conscientiousness c. extroversion d. openness
Consider an incentive system that simply rewards production output. How can this system hurt an organization with a distinct bottleneck operation? What part of the organization will be hurt the most?
Discuss how the new classical economists (hint, island) addressed the fact that money is leading and pro-cyclical. Be extremely specific in the model that was developed (tell a story) and relate the...
(a) Explain why the concentration of dissolved oxygen in freshwater is an important indicator of the quality of the water. (b) How is the solubility of oxygen in water affected by increasing...
Our ability to retain information in short-term memory for a few seconds along with our ability to link information with stored memories is the job of short-term memory's processing manager, called"...
A rocket and its payload have a total mass of 5.0 x 10 4 kg. How large is the force produced by the engine (the thrust) when the rocket is (a) "Hovering" over the launch pad just after ignition and...
A rectangular loop of N closely packed turns is positioned near a long straight wire as shown in Figure. What is the mutual inductance M for the loop-wire combination if N = 100, a = 1.0cm, b = 8.0...
Figure depicts a simplistic optical fiber: a plastic core (n1 = 1.58) is surrounded by a plastic sheath (n2 = 1.53). A light ray is incident on one end of the fiber at angle ?. The ray is to undergo...
A common-size income statement for Liberty would report (amounts rounded) a. Net income of $16 \%$ b. Cost of sales at $36 \%$ c. Sales of $100 \%$ d. All the above
During 2005 , Liberty's days' sales in receivables ratio was a. 39 day's b. 37 day's c. 35 day's d. 30 days
The company has 2,500 shares of common stock outstanding. What is Liberty's earnings per share? a. 2.04 b. 3.6 times c. $\$ 1.22$ d. $\$ 3.05$

Nominal GDP increases from year 1 to year 2. Therefore: a.) We produced more goods and services

Question:

Expert Answer:

Nominal GDP is the market value of all goods ... View the full answer

Fundamentals of Physics

Students also viewed these economics questions