Suppose that nominal GDP in 2011 was less than real GDP in 2011.Given this information,we know for certain that
A) the price level in 2011 was greater than the price level in the base year.
B) the price level in 2011 was less than the price level in the base year.
C) real GDP in 2011 was less than real GDP in the base year.
D) real GDP in 2011 was greater than real GDP in the base year.
Correct Answer:
Verified
Q99: Table 19-9 Q102: Table 19-13 Q142: If the quantity of goods and services Q145: Nominal GDP is GDP in a given Q149: Which of the following could cause nominal Q158: If prices in the economy rise,then Q159: Over the last 50 years,has the ratio Q160: Real GDP is GDP in a given Q163: If nominal GDP is $5 trillion and Q208: If the GDP deflator is less than
A)the purchasing
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