If nominal retail sales increase then Select one: a. real retail sales must also have increased. b. real retail sales and retail prices have increased. c. one of real retail sales and retail prices have increased. d. retail prices must have increased.

If nominal retail sales increase then Select one: a. real retail sales must also have increased. b. real retail sales and retail prices have increased. c. one of real retail sales and retail prices have increased. d. retail prices must have increased.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 6SCQ: The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the...

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Question

If nominal retail sales increase then

Select one:

real retail sales must also have increased.

real retail sales and retail prices have increased.

one of real retail sales and retail prices have increased.

retail prices must have increased.

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