Multiple Choice
Suppose that nominal GDP in 2016 was less than real GDP in 2016.Given this information,we know for certain that
A) the price level in 2016 was greater than the price level in the base year.
B) the price level in 2016 was less than the price level in the base year.
C) real GDP in 2016 was less than real GDP in the base year.
D) real GDP in 2016 was greater than real GDP in the base year.
Correct Answer:
Verified
Correct Answer:
Verified
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