In the Base Year,the Relationship Between Nominal and Real GDP

question 22

Multiple Choice

In the base year,the relationship between nominal and real GDP is

• A)uncertain.
• B)one of equality.
• C)real GDP is higher.
• D)nominal GDP is higher.

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Definitions:

Motivator

A factor that stimulates an individual to act in a certain way or pursue a particular goal, often leading to enhanced performance or behavior.

Restriction of Productivity

Limitations or constraints that decrease the efficiency or output of a process, system, or individual's work.

Piece Rate Pay

A compensation system where employees are paid based on the amount of work they complete rather than the hours worked.

Hourly Wage

Compensation paid to an employee based on the number of hours worked.