Question: Answer these questions about GDP: a. Could next years real GDP exceed next years nominal GDP? b. Could real GDP grow at the same time

Answer these questions about GDP:
a. Could next year’s real GDP exceed next year’s nominal GDP?
b. Could real GDP grow at the same time that real GDP per capita falls?
c. Could people’s real consumption possibilities expand at the same time that real GDP per capita falls?
d. How does changing amounts of leisure complicate comparisons of real well-being over time?

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a Next years real GDP can exceed next years nominal GDP but only if the price level falls If the pri... View full answer

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