If real gross domestic product (GDP)equals nominal GDP,then
A) output did not grow.
B) there was no inflation.
C) the current year is the base year.
D) the growth in output was equal to the growth in the price level.
E) the growth in output was greater than the growth in the price level.

Question

Quizplus · Accepted Answer

When real GDP equals nominal GDP, it indicates that the current year is the base year, as real GDP is adjusted for inflation using the base year's prices.

If Real Gross Domestic Product (GDP)equals Nominal GDP,then