Use the table to answer the question that follows. Year Consumer price index (CPI) Goods produced (units) 1 150 5 2 165 7 From the above table, which of the following statements about the economy in Year 2 are true O The nominal GDP has increased, and real GDP has decreased. O Both the real and nominal GDP have decreased. O The real GDP has increased, and nominal GDP has decreased. O The nominal GDP has increased, but real GDP remains constant. Both the real and nominal GDP have increased.

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Chapter15: Measuring A Nation's Income
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Use the table to answer the question that follows.
Year Consumer price index (CPI) Goods produced (units)
1
150
5
2
165
7
From the above table, which of the following statements about the economy in Year 2 are true?
The nominal GDP has increased, and real GDP has decreased.
Both the real and nominal GDP have decreased.
The real GDP has increased, and nominal GDP has decreased.
The nominal GDP has increased, but real GDP remains constant.
O Both the real and nominal GDP have increased.
Transcribed Image Text:Use the table to answer the question that follows. Year Consumer price index (CPI) Goods produced (units) 1 150 5 2 165 7 From the above table, which of the following statements about the economy in Year 2 are true? The nominal GDP has increased, and real GDP has decreased. Both the real and nominal GDP have decreased. The real GDP has increased, and nominal GDP has decreased. The nominal GDP has increased, but real GDP remains constant. O Both the real and nominal GDP have increased.
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