If 2020 is the base year for real GDP calculations, we know for certain that nominal GDP: O A. Is less than real GDP in 2020. O B. In 2019 was greater than real GDP in 2020. O . Equals real GDP in 2020. O D. Is greater than real GDP in 2020.

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
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If 2020 is the base year for real GDP calculations, we know for certain that nominal GDP:
O A. Is less than real GDP in 2020.
O B. In 2019 was greater than real GDP in 2020.
O . Equals real GDP in 2020.
O D. Is greater than real GDP in 2020.
Transcribed Image Text:If 2020 is the base year for real GDP calculations, we know for certain that nominal GDP: O A. Is less than real GDP in 2020. O B. In 2019 was greater than real GDP in 2020. O . Equals real GDP in 2020. O D. Is greater than real GDP in 2020.
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