Assume that 2009 is the base year. Given macroeconomic conditions in Australia over the past several decades, we know that:
A) real GDP is always larger than nominal GDP for the period 1960 to 2008.
B) real GDP and nominal GDP would be equal for the entire period.
C) real GDP is smaller than nominal GDP from 1998 to 2002.
D) real GDP is larger than nominal GDP from 2006 to 2011.
E) nominal GDP is always larger than real GDP during the past several decades.

Question

Quizplus · Accepted Answer

The Answer of Assume that 2009 is the base year. Given macroeconomic conditions in Australia over the past several decades, we know that:
A) real GDP is always larger than nominal GDP for the period 1960 to 2008.
B) real GDP and nominal GDP would be equal for the entire period.
C) real GDP is smaller than nominal GDP from 1998 to 2002.
D) real GDP is larger than nominal GDP from 2006 to 2011.
E) nominal GDP is always larger than real GDP during the past several decades.

Assume That 2009 Is the Base Year