If nominal GDP changed by 6% and the price level changed by 2%,then real GDP changed by:
A) 4%.
B) 3%.
C) 8%.
D) 12%.
E) 6%.

Name: If nominal GDP changed by 6% and the price level changed by 2%,then real GDP changed by: A) 4%. B) 3%. C) 8%. D) 12%. E) 6%.
Brand: Quizplus
Rating: 4.8 (30 reviews)

Question

Quizplus · Accepted Answer

Real GDP is calculated by adjusting nominal GDP for changes in the price level. If nominal GDP increased by 6% and the price level increased by 2%, then real GDP increased by approximately 4% (6% - 2%).

If Nominal GDP Changed by 6% and the Price Level