If Prices in the Current Year Are Higher on Average

question 37

Multiple Choice

If prices in the current year are higher on average than in the base year, real GDP in the current year ________ nominal GDP in the current year.

• 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:

Levels of Activity

Refers to the intensity and volume of operations or actions within a given system or organizational area.

Predicting

The act of making educated guesses or forecasts about future events based on current or past information.

Future

A time period that is yet to come and the events or conditions that will happen in that time.