Question

when prices increases the nominal GDP​

Answer 1

Answer:

. An increase in nominal GDP means an increase also in economic activity. Since nominal GDP accounts for all final goods and services in an economy at current market prices, growth in this economic measure can be attributed to either an increase in quantity or price.

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Answer 2

Answer:

The nominal GDP could increase for two reasons: 1) because production has increased and 2) because the prices at which the goods and services are sold in the marketplace have increased.