Nominal GDP can change
A)only if prices and the quantities of the goods and services change.
B)only if prices increase.
C)only if prices change.
D)only if the quantities of goods and services change.
E)if either prices or the quantities of goods and services change.

Question

Quizplus · Accepted Answer

Nominal GDP can change if either prices or the quantities of goods and services change. It is calculated by multiplying the price level by the quantity of goods and services produced. Thus, any change in either the price level or the quantity of goods and services will result in a change in nominal GDP.

Nominal GDP Can Change