Table 23-4 the Table Below Reports Nominal and Real GDP for the for the U.S

question 15

Multiple Choice

Table 23-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.
-Refer to Table 23-4. What was the growth rate of real GDP for 1931?

• A)-6.93%. Real GDP is a better gauge of economic well-being than nominal GDP.
• B)-6.93%. Nominal GDP is a better gauge of economic well-being than real GDP.
• C)-6.49%. Real GDP is a better gauge of economic well-being than nominal GDP.
• D)-6.49%. Nominal GDP is a better gauge of economic well-being than real GDP.

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