Multiple Choice
Suppose that the base year is 2015, and the GDP price index in 2014 is 92.0.This implies that the
A) output in 2015 was higher than in 2014.
B) prices in 2015 were higher than in 2014.
C) output in 2015 was lower than in 2014.
D) prices in 2015 were lower than in 2014.
Correct Answer:
Verified
Correct Answer:
Verified
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