Suppose the base year is 2001. Looking at GDP data from the United States from 2001 to the present, what would be true of the relationship between nominal GDP and real GDP? OA RGDP NGDP because prices are stable OB. RGDP NGOP because prids are falling OD. The relationship is uncertain without more information on prices
Suppose the base year is 2001. Looking at GDP data from the United States from 2001 to the present, what would be true of the relationship between nominal GDP and real GDP? OA RGDP NGDP because prices are stable OB. RGDP NGOP because prids are falling OD. The relationship is uncertain without more information on prices
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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