In the Base Year, Real GDP ________ Nominal GDP

question 40

Multiple Choice

In the base year, real GDP ________ nominal GDP.

• A)is greater than
• B)is less than
• C)is equal to
• D)could be greater than or less than

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Definitions:

Interest Rate

The interest rate is the percentage charged on the total amount borrowed or invested, representing the cost of borrowing or the earning from an investment over a specified period.

Loan

A financial amount given as a loan, anticipated to be returned with interest.

Rate of Return

The increase or decrease in the value of an investment during a set timeframe, represented as a percent of the investment's original price.

Equivalent Value

The worth of an item, service, or amount in terms of another, often used in comparisons or exchanges.