Question 17(Multiple Choice ) B (02.04 HC) Use the table to answer the question that follows. Year Price of Good A Quantity of Good A Price of Good B Quantity of Good B 1 $10 5 $12 6 2 $15 5 $12 7 The economy produced only two goods with the prices and quantities of each good for year 1 and year 2 shown above. Which of the following is true? Nominal GDP increased from year 1 to year 2, but Real GDP did not change from year 1 to year 2. O Nominal GDP and real GDP both increased from year 1 to year 2. There was no change in the price level or inflation from year 1 to year 2. Nominal GDP decreased from year 1 to year 2, but real GDP increased from year 1 to year 2. Nominal GDP increased from year 1 to year 2, but the change in real GDP is indeterminate. Question 15(Multiple Choice ) (03.01 LC) Which of the following will lead to an increase in a country's aggregate demand? O A decrease in the price level O An increase in income taxes O A decrease in transfer payments O An increase in exports O A decrease in the depreciation of capital equipment
