The Relationship Between Real GDP and Nominal GDP Can Be

question 117

Multiple Choice

The relationship between real GDP and nominal GDP can be expressed by:

• A)real GDP = nominal GDP + inflation.
• B)percent change in real GDP = percent change in nominal GDP - inflation.
• C)real GDP = nominal GDP - inflation.
• D)percent change in real GDP = percent change in nominal GDP + inflation.

---

Definitions:

Abnormal Subsurface

Relates to unexpected or unusual conditions below the ground surface, often encountered in construction or mining, that can impact the feasibility or the safety of projects.

Rock Formations

Naturally occurring arrangement of rocks in the environment, often characterized by unique shapes and compositions.

Excavation

The process of removing soil, rock, or other materials from a site to form a hole, cavity, or to uncover something buried.

Preexisting Legal Obligation

An obligation that existed before the current situation or agreement, which may affect the validity of a new contract.