Question: two questions thanks What is the difference between nominal and real GDP? ed Select one: out of O a. Nominal GDP is adjusted for changes
two questions thanks

What is the difference between nominal and real GDP? ed Select one: out of O a. Nominal GDP is adjusted for changes in the price level; real GDP is not. O b. Real GDP is adjusted for taxes and transfer payments; nominal GDP is not. n O c. Nominal GDP is adjusted for depreciation; real GDP is not. O d. Real GDP is adjusted for changes in the price level; nominal GDP is not. O e. Real GDP is adjusted for depreciation; nominal GDP is not. n 6 Which of the following does the long-run Phillips curve tell us? ed Select one: d out of O a. That output can be maintained above potential in the long run O b. That output can be below potential in the long run on O c. That the inflation rate cannot rise above 10 percent in the long run O d. That the unemployment rate can take on any value in the long run O e. That unemployment will return to the natural rate in the long run
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
