6. Mariam and Ahmed are discussing current economic data printed in the Times of Oman newspaper. Mariam is quite happy about the fact that Oman nominal GDP has increased at a steady rate for the last two years and asserts that this is very good news, since it means they are better off than a few years ago. Ahmed warns Mariam about his conclusions and suggests that he has observed a steady increase in many prices during the same period, which might undermine Mariam's conclusion. Based on this information: Who do you think is right? Explain why. b. Is it possible that Mariam and Ahmed could be worse off than two years ago? а.

6. Mariam and Ahmed are discussing current economic data printed in the Times of Oman newspaper. Mariam is quite happy about the fact that Oman nominal GDP has increased at a steady rate for the last two years and asserts that this is very good news, since it means they are better off than a few years ago. Ahmed warns Mariam about his conclusions and suggests that he has observed a steady increase in many prices during the same period, which might undermine Mariam's conclusion. Based on this information: Who do you think is right? Explain why. b. Is it possible that Mariam and Ahmed could be worse off than two years ago? а.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 6P

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