Which of the following is true about real GDP? Statement I: It is adju – InterviewSolution

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1.

Which of the following is true about real GDP? Statement I: It is adjusted for changes in prices. Statement II: It is always equal to nominal GDP. Statement III: It increases whenever aggregate output increases.

Answer»

Which of the following is true about real GDP?

Statement I: It is adjusted for changes in prices.

Statement II: It is always equal to nominal GDP.

Statement III: It increases whenever aggregate output increases.

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