Which of the Following BEST Describes nominal GDP

question 9

Multiple Choice

Which of the following BEST describes nominal GDP?

• A) Total quantity of goods and services produced by an economic system
• B) Total value of all goods and services produced within a given period by a national economy through domestic factors of production, measured in current dollars or with all components valued at current prices
• C) Total value of all goods and services produced within a given period by a national economy regardless of where the factors of production are located
• D) Total value of all goods and services produced within a given period by a national economy through domestic factors of production, adjusted to account for changes in currency values and price changes
• E) Total quantity of goods and services that are imported within a given period of time

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Definitions:

Federal Register

The official journal of the federal government of the United States that contains government agency rules, proposed rules, and public notices.

Effective Date

The date on which an agreement, policy, or law comes into force.

Publication

The process of making information available to the general public, often through printing, broadcasting, or digital dissemination.

Rule Making

The process by which governmental bodies and agencies formulate, amend, or repeal regulations, often involving public notice and an opportunity for comment.