Question
In a hypothetical country, Nominal GDP has increased by 5%. Which of the following must be true?(1 point)
Responses
Prices have increased.
Prices have increased.
The quantity of economic output has increased.
The quantity of economic output has increased.
Either price, economic output, or both has increased.
Either price, economic output, or both has increased.
The quantity of economic output has decreased.
Responses
Prices have increased.
Prices have increased.
The quantity of economic output has increased.
The quantity of economic output has increased.
Either price, economic output, or both has increased.
Either price, economic output, or both has increased.
The quantity of economic output has decreased.
Answers
Answered by
GPT 3.5
Either price, economic output, or both has increased.