If all quantities produced rise by 5 percent and all prices fall by 5 percent, which of
Question:
If all quantities produced rise by 5 percent and all prices fall by 5 percent, which of the following best describes what occurs?
a. Real GDP rises by 5 percent, while nominal GDP falls by 5 percent.
b. Real GDP rises by 5 percent, while nominal GDP is unchanged.
c. Real GDP is unchanged, while nominal GDP rises by 5 percent.
d. Real GDP is unchanged, while nominal GDP falls by 5 percent.
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Heres a breakdown of what happens Quantity increase All quantities produced rise by 5 This signifies ...View the full answer
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Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
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