Table 10-3
the Table Below Reports Nominal and Real GDP

Multiple Choice

Table 10-3
The table below reports nominal and real GDP for the U.S. from 1929 to 1932. $$\begin{array} { c c c } \hline \text { Year } & \begin{array} { c } \text { Nominal } \\\text { GDP }\end{array} & \text { Real GDP } \\\hline 1929 & 103.6 & 977 \\1930 & 91.2 & 892.8 \\1931 & 76.5 & 834.9 \\1932 & 58.7 & 725.8 \\\hline\end{array}$$
-Refer to Table 10-3. What was the growth rate of real GDP for 1931?

A) -6.93%. Real GDP is a better gauge of economic well-being than nominal GDP.
B) -6.93%. Nominal GDP is a better gauge of economic well-being than real GDP.
C) -6.49%. Real GDP is a better gauge of economic well-being than nominal GDP.
D) -6.49%. Nominal GDP is a better gauge of economic well-being than real GDP.