Multiple Choice
Suppose that nominal GDP in 2011 was less than real GDP in 2011.Given this information,we know for certain that
A) the price level in 2011 was greater than the price level in the base year.
B) the price level in 2011 was less than the price level in the base year.
C) real GDP in 2011 was less than real GDP in the base year.
D) real GDP in 2011 was greater than real GDP in the base year.
Correct Answer:
Verified
Correct Answer:
Verified
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