The graphic below depicts the nominal and real GDP in Japan. What is the significance of the
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Question:
The graphic below depicts the nominal and real GDP in Japan. What is the significance of the two curves crossing in 2005?
Select one:
a. Nominal GDP is equal to real GDP during this year which is considered as the base year.
b. Nominal GDP is greater than real GDP during this year.
c. Nominal GDP is lower than real GDP during this year.
d. Nominal GDP is equal to real GDP during this year which is considered as the current year.
Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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