Multiple Choice
If real GDP in 2007 (using 2002 prices) is lower than nominal GDP of 2006, then
A) prices in 2007 are lower than prices in 2006.
B) prices in 2007 are higher than prices in 2006.
C) nominal GDP in 2007 equals nominal GDP in 2006.
D) real GDP in 2007 is larger than real GDP in 2006.
Correct Answer:
Verified
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