Answered You can hire a professional tutor to get the answer.
QUESTION
In the base year: nominal GDP is always larger than real GDP because prices are held constant. real GDP is always larger than nominal GDP because...
In the base year:
nominal GDP is always larger than real GDP because prices are held constant.
real GDP is always larger than nominal GDP because prices are held constant.
nominal and real GDP are equal by definition.
real GDP will only be larger than nominal GDP if prices increased in the base year
