canvasxavieredu O real GDP in 2016 was greater than real GDP

canvas.xavieredu O real GDP in 2016 was greater than real GDP in the base year. Question 8 Real GDP will increase O only if the price level rises. O only if the price level falls. only if the quantity of final goodt and services produced rises. O if either the price level rises or the quantity of final goods and services produced rises D Question 9 Table 8-30 Billions of Doll ars $3,250 GDP 300 Retatned eamings 1,000

Solution

option (c);

Real GDP = Nominal GDP / Price

if the price falls and Nominal GDP falls more than the price then it will not increase.

if price rises then it will fall.

it only increase if quantity produced increase which will increase nominal GDP.