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Which of the following situation is true about the real and nominal GDP? -Real and nominal GDP both are calculated using current year prices. -Real
Which of the following situation is true about the real and nominal GDP?
-Real and nominal GDP both are calculated using current year prices.
-Real and nominal GDP both are calculated using base year prices.
- Real GDP is calculated using base year prices while nominal GDP is calculated at current year prices.
-Real GDP is calculated using current year prices while nominal GDP is calculated at base year prices.
-Real GDP is always less than nominal GDP.
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