For any year beyond the base year, nominal GDP must be greater than real GDP.
Correct Answer:
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Q268: If in the same period output doubles
Q269: Fixed weight indexes
A) account for responses to
Q270: Related to the Economics in Practice on
Q271: If real GDP decreased during a year,
Q272: The year chosen for the weights in
Q274: If real GDP falls, then so must
Q275: If real GDP increased during a year,
Q276: GDP understates the value of output produced
Q277: The base year of an index is
A)
Q278: Per capita gross national income (GNI) decreases
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