Table 5-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.
-Refer to Table 5-3. What was the growth rate of real GDP for 1930?
A) -8.62%. Real GDP is a better gauge of economic well-being than nominal GDP.
B) -8.62%. Nominal GDP is a better gauge of economic well-being than real GDP.
C) -9.43%. Real GDP is a better gauge of economic well-being than nominal GDP.
D) -9.43%. Nominal GDP is a better gauge of economic well-being than real GDP.
Correct Answer:
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