Table 19-12
$$\begin{array} { | c | c | c | }
\hline \text { Year } & \begin{array} { c }
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2013 & \$ 7,400 & \$ 7,537 \
\hline 2014 & 7,813 & 7,813 \
\hline 2015 & 8,301 & 8,165 \
\hline 2016 & 8,760 & 8,516 \
\hline
\end{array}$$
-Refer to Table 19-12.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is
A)2013.
B)2014.
C)2015.
D)2016.

Question

Table 19-12
 $$\begin{array} { | c | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2013 & \$ 7,400 & \$ 7,537 \
\hline 2014 & 7,813 & 7,813 \
\hline 2015 & 8,301 & 8,165 \
\hline 2016 & 8,760 & 8,516 \
\hline
\end{array}$$
-Refer to Table 19-12.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is
A)2013.
B)2014.
C)2015.
D)2016.

Quizplus · Accepted Answer

In 2014, nominal GDP equals real GDP, indicating that 2014 is the base year.

Table 19-12 -Refer to Table 19-12