Real gross domestic products can be equal to nominal gross domestic product
True or False with Reasons:
Real gross domestic products can be equal to nominal gross domestic product.
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True,
It is possible when price level in both the years is same.
Explanation:-
Real gross domestic product is calculated at the constant (base) Price.
Whereas, Nominal gross domestic product is calculated at the current price.
For example
Base year is 2015, the price prevailing are ₹ 200
the current year is 2024, the price prevailing in this year is also ₹ 200
then, both becomes equal.
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