Consider the following chart, which shows real vs. nominal GDP in the U.S. Real GDP versus Nominal GDP (United States) 21.5 20 16 19.1 Real GDP 12 In Trillions (SUSD) 3.3 Nominal GDP O.5 1962 1982 1990 1994 1998 2008 2016 2000 2002 2004 2012 2010 2014 2018 198 198 198 1992 2006 1960 Source: U.S. Bureau of Economic Analysis Recession - Real GDP Data As of January 18, 2020 Nominal GDP Endless Metrics What is a the most plausible reason that nominal GDP exceeded real GDP after 2014? Technological progress receded. The economy contracted and produced fewer goods. The rise in prices exceeded the rise in production. China exceeded the U.S. in real GDP (PPP)