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National Income Accounting — Economics STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEconomicsNational Income Accounting3 Marks
Question
Giving reason, state whether the following statement are true or false:
Real GDP = Nominal GDP.
✓

Answer

True.
Explanation:
If price index of current year is equal to the price index of base year, then the real GDP can be equal to nominal GDP. But it is rare situation.

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