Question

Suppose that price level has risen in the past year, but production of goods and services has remained constant. Nominal GDP has ______, and real GDP has ______.

A) increased; not changed


B )increased; increased


C )decreased; increased


D) decreased; decreased

Answer 1

increased; not changed

Step-by-step explanation:

The Nominal GDP changes with inflation while the Real GDP does not.

Answer 2

Decreased; increased