English, 06.06.2021 19:00, hugo211

2.24 Which of the following statements about nominal GDP is true? [1]
it grows when prices rise and output is constant
[2] it accounts for inflation
[3] it is measured at base year prices
[4] it accounts for price changes
25 Suppose the total value of goods and services in South Africa
in 2019 to R675 million in 2020, while the quantity of goods and
the same. Which one of the following statements is correct?
[1] nominal GDP increased; real GDP decreased
[2]
nominal GDP is unchanged; real GDP increased
131

Answers: 3

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2.24 Which of the following statements about nominal GDP is true? [1]
it grows when prices ris...