The Major Difference Between Nominal GDP and Real GDP Is

question 205

Multiple Choice

The major difference between nominal GDP and real GDP is that

• A)real GDP is the absolute value of goods and services and nominal GDP is a relative value.
• B)real GDP refers to products made in the United States and nominal GDP refers to both exports and imports.
• C)nominal GDP is the market value and real GDP has been adjusted for inflation.
• D)real GDP is a relative value and nominal GDP is an absolute value.

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Definitions:

Connections

Relationships or associations between people, places, or things, often implying a network of interactions.

Neurons

Specialized nerve cells that convey information via electrical and chemical signals in the nervous system.

Myelination

The process by which axons of nerve cells are coated with myelin, a fatty substance that speeds up the transmission of nerve impulses.

Demyelination

A pathological condition in which the myelin sheath covering nerve fibers is damaged, impairing the conduction of electrical signals in the nervous system.