Question: Look at your graph comparing Nominal and Real GDP . Why is Nominal GDP higher than Real GDP in 2 0 1 8 ? 2

Look at your graph comparing Nominal and Real GDP. Why is Nominal GDP higher than Real GDP in 2018?
2018 was not a leap year
Prices of goods and services produced have increased since 2012
Prices of goods and services produced have decreased since 2012
Government transfer payments have increased since 2012

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!