Assume that the nominal GDP of an economy was $350 billion in 2016 and $375 billion in 2017.On the basis of this information, we:
A) cannot make a meaningful comparison of the economy's performance in 2017 relative to 2016.
B) can conclude that the economy achieved real economic growth in 2017.
C) can conclude that the real GDP was higher in 2016 than in 2017.
D) can conclude that the real GDP was lower in 2016 than in 2017.
Correct Answer:
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