Question: One distinction between real and nominal GDP is: a. Nominal GDP represents base year GDP, while real GDP represents current year. b. Nominal GDP

One distinction between real and nominal GDP is: a. Nominal GDP represents base year GDP, while real GDP

One distinction between real and nominal GDP is: a. Nominal GDP represents base year GDP, while real GDP represents current year. b. Nominal GDP can increase only if prices rise. c. Real GDP can increase only if prices rise. d. Nominal GDP will increase if Real GDP rises (except when prices fall). e. Nominal GDP equals Real GDP, adjusted for interest rates (except when prices fall).

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