In Any Year, Nominal GDP Divided by the GDP Chain

question 42

True/False

In any year, nominal GDP divided by the GDP chain price index equals real GDP.

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Definitions:

Parabola

A specific type of curve on a graph described by a quadratic equation, characterized by being symmetrical and U-shaped.

Graph

A visual representation of data or a function using a system of coordinates.

Vertex

A vertex can refer to the highest or lowest point on a parabola, or a corner point in geometric shapes and graphs.

Function

In the field of mathematics, a relation is a connection between a set of inputs and a possible set of outputs where every input corresponds to precisely one output.