For this question,assume that 1980 is the base year.Given macroeconomic conditions in the United States over the past three decades,we know that
A) nominal GDP is always smaller than real GDP since 1980.
B) real GDP and nominal GDP would be equal for the entire period.
C) real GDP is larger than nominal GDP from 2002 to 2008.
D) real GDP and nominal GDP were equal in 1980.
E) none of the above
Correct Answer:
Verified
Q2: Which of the following does not represent
Q3: Deflation generally occurs when which of the
Q4: Which of the following about capital income
Q5: GDP in current dollars is equivalent to
Q6: Which of the following represents real GDP?
A)GDP
Q7: Fill in the blank for the following:
Q8: A firm's value added equals
A)its revenue minus
Q9: According to convention,a recession is referred to
Q10: Measures of aggregate output have been published
Q11: Based on the notation presented in Chapter
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