Multiple Choice
If real GDP in 2016 using 2015 prices is equal to the nominal GDP of 2016, then
A) prices in 2016 are lower than prices in the base year.
B) the price level has not changed.
C) prices in 2016 are higher than prices in the base year.
D) real GDP in 2016 is larger than real GDP in 2015.
Correct Answer:
Verified
Correct Answer:
Verified
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