If the price index is now 120, it means:
Answer a. nominal GDP will be less than real GDP.
b. prices are 120 percent higher than in the base year.
c. prices are 1.2 percent higher than in the base year
d. prices are 20 percent higher than in the base year
If the price index is now 120, it means: D. prices are 20 percent higher than in the base year.
Question
Asked 9/18/2012 7:34:16 AM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Rating
There are no new answers.