Nominal Year Price level GDP 1982 100 €1,600 1992 150 €3,000 2002 300 €6,000 In the above table, using 1982 as the base year, what was real GDP in 1992? O €2,400. O €2,000. O €1,600. о 3,000.

Nominal Year Price level GDP 1982 100 €1,600 1992 150 €3,000 2002 300 €6,000 In the above table, using 1982 as the base year, what was real GDP in 1992? O €2,400. O €2,000. O €1,600. о 3,000.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 18RQ: What are the two main difficulties that arise in comparing different comparing GDP?

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Question

Nominal
Year
Price level
GDP
1982
100
€1,600
1992
150
€3,000
2002
300
€6,000
In the above table, using 1982 as the base year, what was real GDP in 1992?
O €2,400.
O €2,000.
O €1,600.
O €3,000.

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