Table 15-4
The table below reports nominal and real GDP for the U.S.from 1929 to 1932.

-Refer to Table 15-3.If prices had remained constant between 1929 and 1930,GDP would have decreased

Question

Table 15-4
The table below reports nominal and real GDP for the U.S.from 1929 to 1932.
 
-Refer to Table 15-3.If prices had remained constant between 1929 and 1930,GDP would have decreased

Quizplus · Accepted Answer

The correct answer is A because if prices had remained constant between 1929 and 1930, GDP would have decreased by 8.62%. This is because the decrease in real GDP was due to a decrease in output, not a decrease in prices.

Table 15-4 the Table Below Reports Nominal and Real GDP for the for the U.S.from