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Which of the following statements about nominal GDP and real GDP is correct? A. Because GDP in 2017 is greater than GDP in 2016, it
Which of the following statements about nominal GDP and real GDP is correct? A. Because GDP in 2017 is greater than GDP in 2016, it must be the case that we produced more goods and services in 2017 than we produced in 2016. O B. To isolate the increase in production from the rise in prices, we distinguish between real GDP and nominal GDP. O C. Real GDP is less than nominal GDP in every year. O D. Real GDP is just a more precise name for GDP
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