Assume that in 2002 the nominal GDP was $350 billion and in 2003 it was $375 billion. On the basis of this information we:

a) cannot make a meaningful comparison of the economy’s performance in 2002 relative to 2003.
b) can conclude that the economy was achieving real economic growth.
c) can conclude that real GDP was higher in 2002 than in 2003.
d) can conclude that real GDP was lower in 2002 than in 2003.


a) cannot make a meaningful comparison of the economy’s performance in 2002 relative to 2003.