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Macroeconomics

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Moderate

Nominal GDP

MACRO-ILKYTZ

If nominal GDP increases from year 1 to year 2, which of the following is true?

A

Real GDP must have increased from year 1 to year 2.

B

The price level must have increased from year 1 to year 2.

C

Both real GDP and the price level must have increased from year 1 to year 2.

D

If real GDP increased from year 1 to year 2, the price level must have remained constant.

E

Both real GDP and the price level may have increased from year 1 to year 2.