Which one of the following is true? Oreal GDP = nominal GDP - Price level O nominal GDP = Real GDP/Price level Oreal GDP = nominal GDP/Price level Oreal GDP = nominal GDP + Price level.

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
Section: Chapter Questions
Problem 2CQ
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Which one of the following is true?
Oreal GDP = nominal GDP - Price level
nominal GDP = Real GDP/Price level
O real GDP = nominal GDP/Price level
Oreal GDP = nominal GDP + Price level.
Transcribed Image Text:Which one of the following is true? Oreal GDP = nominal GDP - Price level nominal GDP = Real GDP/Price level O real GDP = nominal GDP/Price level Oreal GDP = nominal GDP + Price level.
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