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


The Table below summarizes the nominal and real GDP<br>information for an economy for 2013 and 2014:<br>2013<br>2014<br>Nominal GDP<br>OMR 43,000<br>OMR 38,700<br>OMR 51,000<br>OMR 44,300<br>Real GDP<br>Between 2013 and 2014, what has happened to price<br>levels in this economy?<br>Select one:<br>a. The price level has fallen.<br>b. The price level has risen.<br>c. The price level has remained stable.<br>d. None of the answers are correct<br>e. Not enough information is available to<br>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 OMR 43,000 OMR 38,700 OMR 51,000 OMR 44,300 Real GDP Between 2013 and 2014, what has happened to price levels in this economy? Select one: a. The price level has fallen. b. The price level has risen. c. The price level has remained stable. d. None of the answers are correct e. Not enough information is available to determine what has happened to prices.

Jun 11, 2022
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