Multiple Choice
What is the relationship between real and nominal GDP?
A) real GDP = nominal GDP - Price level
B) nominal GDP = Real GDP/Price level
C) real GDP = nominal GDP/Price level
D) real GDP = nominal GDP + Price level.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: Which of the following governmental expenditures are
Q48: The calculation of potential output in the
Q49: In 1996,an advisory commission,appointed by the Senate
Q50: What was the largest and most important
Q51: The largest component of GDP in the
Q52: Goods in the CPI inflation are weighted
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Q57: If real GDP exceeds potential GDP,this means