Consider a country that has a positive rate of inflation each year. The base year used to calculate real GDP is 2012. Nominal GDP for 2012 will be [Select] than real GDP in 2012. Nominal GDP for 2013 will be [Select ] than real GDP in 2013.

Consider a country that has a positive rate of inflation each year. The base year used to calculate real GDP is 2012. Nominal GDP for 2012 will be [Select] than real GDP in 2012. Nominal GDP for 2013 will be [Select ] than real GDP in 2013.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter17: Inflation

Section: Chapter Questions

Problem 5SQ

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Greater than/less than/same

Consider a country that has a positive rate of inflation each year. The base year used to
calculate real GDP is 2012.
Nominal GDP for 2012 will be [ Select ]
V than real GDP in 2012.
Nominal GDP for 2013 wil| be [Select]
than real GDP in 2013.
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