Use the following to answer questions:
-(Table: Per Capita GDP) Use Table: Per Capita GDP. If 2011 is the base year, real GDP in 2011 was:
A) $500.
B) $3,000.
C) $4,000.
D) $300,000.

Question

Use the following to answer questions: 
-(Table: Per Capita GDP) Use Table: Per Capita GDP. If 2011 is the base year, real GDP in 2011 was:
A) $500. 
B) $3,000. 
C) $4,000. 
D) $300,000.

Quizplus · Accepted Answer

In the base year, real GDP is equal to nominal GDP. Since 2011 is the base year, the real GDP in 2011 would be the same as the nominal GDP for that year, which is $3,000.

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