a-country-has-a-nominal-gdp-of-1-trillion-in-2022-and-a-real-gdp-of-900-billion-

Question

A country has a nominal GDP of $1 trillion in 2022 and a real GDP of $900 billion using 2015 as the base year. What does this indicate about the price level changes between 2015 and 2022?

Accepted Answer

The price level has increased since 2015.

Answer

There is not enough information to determine price level changes.

Answer

The price level has remained constant since 2015.

Answer

The price level has decreased since 2015.

A country has a nominal GDP of \$1 trillion in 2022 and a real GDP of \$900 billion using 2015 as the base year. What does this indicate about the price level changes between 2015 and 2022?