Suppose that nominal GDP in 2013 was less than real GDP in 2013.Given this information,we know for certain that
A) the price level in 2013 was greater than the price level in the base year.
B) the price level in 2013 was less than the price level in the base year.
C) real GDP in 2013 was less than real GDP in the base year.
D) real GDP in 2013 was greater than real GDP in the base year.
Correct Answer:
Verified
Q149: Which of the following could cause nominal
Q158: If prices in the economy rise,then
A)the purchasing
Q164: The _ is a measure of the
Q167: The GDP deflator is a measure of
Q169: Nominal GDP is another term for
A)inflation-adjusted GDP.
B)real
Q171: If nominal GDP exceeds real GDP for
Q172: Table 8-15 Q173: If real GDP in 2013 (using 2009 Q176: The GDP deflator in year 2 is Q177: Table 8-14
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents