What occurred during 2012 if nominal GDP increased and real GDP decreased,relative to the year 2011?
A)The economy experienced deflation during 2012.
B)Production of intermediate goods and services in the economy increased during 2012.
C)The economy experienced inflation during 2012.
D)Total production of goods and services in the economy increased during 2012.

Question

Quizplus · Accepted Answer

Nominal GDP increased while real GDP decreased, indicating that prices rose, leading to inflation.

What Occurred During 2012 If Nominal GDP Increased and Real