# Suppose that nominal GDP in 2005 was less than real GDP in 2005

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Suppose that nominal GDP in 2005 was less than real GDP in 2005. Given this information, we know for certain that â€¨17) â€¨______ A) â€¨real GDP in 2005 was greater than real GDP in the base year. B) â€¨the price level in 2005 was greater than the price level in the base year. C) â€¨the price level in 2005 was less than the price level in the base year. D) â€¨real GDP in 2005 was less than real GDP in the base year.

In 2007, Kendall Ford, an automobile dealership, spends \$20,000 on a new car lift for its repair shop, \$2,000 on a new copy machine for its sales division, and \$500,000 on Ford Motor company stock. Unsold cars and trucks were valued at \$900,000 on January 1, 2007 and unsold cars and trucks were valued at \$600,000 on December 31, 2007. What is Kendall Ford's total investment spending in 2007? â€¨13) â€¨______ A) â€¨\$22,000 â€¨B) â€¨\$922,000 â€¨C) â€¨\$322,000 â€¨D) â€¨\$522,000

• 6 years ago
Suppose that nominal GDP in 2005 was less than real GDP in 2005
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