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O Nominal GDP must be deflated in each year since 1992 to determine real GDP. O The price index is greater than 100 for
O Nominal GDP must be deflated in each year since 1992 to determine real GDP. O The price index is greater than 100 for every year shown on the graph. Nominal GDP cannot be used to determine real GDP. Real GDP has grown in this economy, but nominal GDP has not. GDP 0. 1992 Time Nominal and real
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Economics
Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn
18th edition
978-0077413798, 0-07-336880-6, 77413792, 978-0-07-33688, 978-0073375694
