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If real GDP in 2016 using 2015 prices is higher than nominal GDP of 2016, then

Gideon123

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If real GDP in 2016 using 2015 prices is higher than nominal GDP of 2016, then

Question 1.

If real GDP in 2016 using 2015 prices is lower than nominal GDP of 2016, then

▸ prices in 2016 are lower than prices in 2015.

▸ nominal GDP in 2016 equals nominal GDP in 2015.

▸ prices in 2016 are higher than prices in 2015.

▸ real GDP in 2016 is larger than real GDP in 2015.

Question 2.

If real GDP in 2016 using 2015 prices is higher than nominal GDP of 2016, then

▸ prices in 2016 are lower than prices in the base year.

▸ nominal GDP in 2016 equals nominal GDP in 2015.

▸ prices in 2016 are higher than prices in the base year.

▸ real GDP in 2016 is larger than real GDP in 2015.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 103 times

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