During the last decade,the nominal price of petroleum has __________,while the real price of petroleum has _________.

Question

Quizplus · Accepted Answer

The nominal price of petroleum has increased during the last decade, but the real price of petroleum has increased by less than the nominal prices. This is because the real price takes into account inflation and other economic factors that can affect the purchasing power of a currency. So while the nominal price may have gone up, the real price has not increased as much when adjusted for these factors.

During the Last Decade,the Nominal Price of Petroleum Has __________,While