In the Base Year

question 106

Multiple Choice

In the base year:

• A) nominal and real GDP are equal by definition.
• B) nominal GDP is always larger than real GDP because prices are held constant.
• C) real GDP is always larger than nominal GDP because prices are held constant.
• D) real GDP will only be larger than nominal GDP if prices increased in the base year.

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Definitions:

Milliseconds

A unit of time equal to one thousandth of a second, commonly used to measure the timing of very quick events.

Characters

The people or beings in a story, play, or other literary work who carry out the action and dialogue, contributing to the work's plot and theme.

Jerky Movements

Rapid, sharp actions or motions that are not smooth, often involuntary and without a steady rhythm.

Scanning

The process of systematically looking over a wide area or examining information carefully in search of something specific.