ARU Wid Q If both nominal GDP and real GDP increase from one year to the next, but the increase in real GDP is smaller than that of nominal GOP, we can conclude that Multiple Choice prices went up, but output stayed the same prices stayed the same, but output went up, both prices and output went up. both prices and output stayed the same One of the most common uses of GDP is: Multiple Choice tracking changes in an economy over time. determining which country has the fairest distribution of wealth. determining the most efficient level of taxation O measuring the amount of money that has been minted by the government. F910525 S: If consumption is $7 trillion, wages $10 trillion, interest Strillion, rental income $15 trillion and profits $2 trillion, what is the value of the economy using the income approach Multiple Choice $14.5 trillion $7.5 trillion $21.5 trillion $13 trillion ARU Wid Q If both nominal GDP and real GDP increase from one year to the next, but the increase in real GDP is smaller than that of nominal GOP, we can conclude that Multiple Choice prices went up, but output stayed the same prices stayed the same, but output went up, both prices and output went up. both prices and output stayed the same One of the most common uses of GDP is: Multiple Choice tracking changes in an economy over time. determining which country has the fairest distribution of wealth. determining the most efficient level of taxation O measuring the amount of money that has been minted by the government. F910525 S: If consumption is $7 trillion, wages $10 trillion, interest Strillion, rental income $15 trillion and profits $2 trillion, what is the value of the economy using the income approach Multiple Choice $14.5 trillion $7.5 trillion $21.5 trillion $13 trillion