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

In A Hypothetical Country Nominal GDP Has Increased By 5 Which Of The Following Must Be True 1 Point Prices Have Increased Either Price Economic Output Or Both class=

Sagot :

Parrain

As a result of an increase in nominal GDP, we can infer that Either price, economic output, or both has increased.

Nominal GDP can increase when:

  • An increase in price makes the final price of goods and services more than it was before
  • An increase in economic output means that more goods and services are being produced that increase GDP

There is also the chance that both of these could happen at the same time. This would increase the Nominal GDP by a higher rate.

In conclusion, a rise of nominal GDP could come from either or both of those factors.

Find out more at https://brainly.com/question/13342564.

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