Assume That in Year 1, an Economy's Nominal GDP Was

Multiple Choice

Assume that in year 1, an economy's nominal GDP was $350 billion and in year 2, it was $375 billion. Based on this information, we

A) cannot make a meaningful comparison of the economy's performance in year 1 relative to year 2.
B) can conclude that the economy was achieving real economic growth.
C) can conclude that real GDP was higher in year 1 than in year 2.
D) can conclude that real GDP was lower in year 1 than in year 2.