When nominal GDP is less than real GDP it means
A) prices have risen since the year we use as a standard for constant prices.
B) the population has increased.
C) prices have fallen since the base year.
D) the population has decreased.
E) there is a mistake because nominal GDP can never be less than real GDP.
Correct Answer:
Verified
Q1: Real GDP uses
A) constant prices to value
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Q4: When real GDP decreases, what could not
Q5: Alex paid her brother Andy $50 to
Q6: In 2015, the country of Adanac produced
Q7: Which statement about nominal and real GDP
Q8: When nominal GDP is greater than real
Q9: Which statement about nominal and real GDP
Q10: In 2015, the country of Adanac produced
Q11: Which statement about nominal and real GDP
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