13 Real GDP 1992 Time Refer to the above diagram. Which of the following statements is correct? Multiple Choice Nominal GDP must be deflated in each year since 1992 to determine real GDP. Real GDP has...

Q13

Extracted text: 13 Real GDP 1992 Time Refer to the above diagram. Which of the following statements is correct? Multiple Choice Nominal GDP must be deflated in each year since 1992 to determine real GDP. Real GDP has grown in this economy, but nominal GDP has not. The price index is greater than 100 for every year shown on the graph. Nominal GDP must be deflated in each year prior to 1992 to determine real GDP. Nominal and real GD