Question
If production and prices steadily increase year over year, which of the following must be true? All of these are correct. Real GDP will always
If production and prices steadily increase year over year, which of the following must be true?
All of these are correct.
Real GDP will always increase year over year.
Real GDP is higher than nominal GDP in years before the base year.
Nominal GDP will always increase year over year.
Nominal GDP is higher than real GDP in years after the base year.
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Economics
Authors: John Sloman, Jon Guest, Dean Garratt
10th edition
1292187859, 9781292187907 , 978-1292187853
