Answer:
Either the price level or real GDP must increase
Explanation:
Gross Domestic Product (GDP) is used to measure the economic growth, purchasing power, and overall economic health of a country. nominal Gross Domestic Product, measures the value of all final goods and services produced within a country’s borders at current market prices. It takes change in prices and interest rates, inflation and money supply into account when calculating a country’s gross domestic product. Real GDP takes nominal GDP and adjusts for inflation or deflation by comparing and converting prices to a base year’s prices. For nominal GDP to rise there must be increase on either the price level or real GDP.
