Multiple Choice
If the price index in year A is 130, this means that:
A) Prices in year A are on average 130 percent higher than in the base year
B) Prices in year A are on average13 times that in the base year
C) Prices in year A are on average 30 percent higher than in the base year
D) Nominal GDP is 130 percent higher than real GDP in year A
Correct Answer:
Verified
Correct Answer:
Verified
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