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If real GDP in 2016 using 2015 prices is lower than nominal GDP of 2016, :then prices in 2016 are lower than prices in 2015. O о real GDP in 2016 is larger than real GDP in 2015. prices in 2016 are higher than prices in 2015. O nominal GDP in 2016 equals nominal GDP in 2015.

If real GDP in 2016 using 2015 prices is lower than nominal GDP of 2016, :then prices in 2016 are lower than prices in 2015. O о real GDP in 2016 is larger than real GDP in 2015. prices in 2016 are higher than prices in 2015. O nominal GDP in 2016 equals nominal GDP in 2015.

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section5.4: Real Versus Nominal Gdp
Problem 4QQ
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If real GDP in 2016 using 2015 prices is lower than nominal GDP of 2016, :then prices in 2016 are lower than prices in 2015. O real GDP in 2016 is larger than real GDP in 2015. O prices in 2016 are higher than prices in 2015. O nominal GDP in 2016 equals nominal GDP in 2015. O
Transcribed Image Text:If real GDP in 2016 using 2015 prices is lower than nominal GDP of 2016, :then prices in 2016 are lower than prices in 2015. O real GDP in 2016 is larger than real GDP in 2015. O prices in 2016 are higher than prices in 2015. O nominal GDP in 2016 equals nominal GDP in 2015. O
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