Suppose That an Economy Is Experiencing Continuously Rising Prices

question 108

Multiple Choice

Suppose that an economy is experiencing continuously rising prices. If 2000 is the base year, then the real GDP in 1990 is _______ than the nominal GDP.

• A) less than
• B) greater than
• C) equal to
• D) There is insufficient information to answer this question.

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Definitions:

Native Americans

The indigenous peoples of the United States, including both American Indian and Alaska Native groups.

Slavery

The ownership and control of people.

Ownership

Ownership refers to the legal right or title to possess and use property, whether tangible or intangible, including rights to use, enjoy, and dispose of the property as the owner sees fit.

Control

The ability to shape or guide the actions of individuals or the direction of occurrences.