Choose the Correct Statement

question 62

Multiple Choice

Choose the correct statement.

• A)When nominal GDP increases, real GDP decreases.
• B)Nominal GDP is just a more precise name for real GDP.
• C)We measure the change in production by comparing nominal GDP in one year with real GDP in the previous year.
• D)Nominal GDP is just a more precise name for GDP.
• E)Nominal GDP and real GDP both increase when the average level of prices increase.

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