The Table below summarizes the nominal and real GDP information for an economy for 2013 and 2014: 2013 2014 Nominal GDP $43,000 $51,000 Real GDP $38,700 $44,300 Between 2013 and 2014, what has...


The Table below summarizes the nominal and real GDP information for an economy for 2013 and 2014:<br>2013<br>2014<br>Nominal GDP<br>$43,000<br>$51,000<br>Real GDP<br>$38,700<br>$44,300<br>Between 2013 and 2014, what has happened to price levels in this economy?<br>Select one:<br>O a. The price level has risen.<br>O b. The price level has remained constant.<br>c. The price level has fallen.<br>O d. Not enough information is available to determine what has happened to prices.<br>

Extracted text: The Table below summarizes the nominal and real GDP information for an economy for 2013 and 2014: 2013 2014 Nominal GDP $43,000 $51,000 Real GDP $38,700 $44,300 Between 2013 and 2014, what has happened to price levels in this economy? Select one: O a. The price level has risen. O b. The price level has remained constant. c. The price level has fallen. O d. Not enough information is available to determine what has happened to prices.

Jun 09, 2022
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