Table 12-12
$$\begin{array} { | c | c | c | }
\hline \text { Year } & \begin{array} { c }
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2008 & \$ 7,400 & \$ 7,537 \
\hline 2009 & 7,813 & 7,813 \
\hline 2010 & 8,301 & 8,165 \
\hline 2011 & 8,760 & 8,516 \
\hline
\end{array}$$
-Refer to Table 12-12.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is

Question

Table 12-12
 $$\begin{array} { | c | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2008 & \$ 7,400 & \$ 7,537 \
\hline 2009 & 7,813 & 7,813 \
\hline 2010 & 8,301 & 8,165 \
\hline 2011 & 8,760 & 8,516 \
\hline
\end{array}$$
-Refer to Table 12-12.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is

Quizplus · Accepted Answer

In 2009, nominal GDP equals real GDP, indicating that 2009 is the base year for calculating real GDP.

Table 12-12 -Refer to Table 12-12