The Difference Between Nominal and Real GDP Is Which of the Following

question 49

Multiple Choice

The difference between nominal and real GDP is which of the following?

• A)Real GDP has been adjusted for price changes.
• B)Nominal GDP refers to last year's GDP, whereas real GDP is for the current fiscal year.
• C)Real GDP is adjusted for depreciation whereas nominal GDP is not.
• D)Nominal GDP has been adjusted for price changes.

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Definitions:

Short-Term Memory

Short-term memory, a component of human memory, is the capacity for holding a small amount of information in an active, readily available state for a brief period.

Working Memory

The cognitive system responsible for temporarily holding and processing information to perform complex tasks like learning, reasoning, and comprehension.

Auditory Tasks

Activities or challenges that primarily rely on the sense of hearing and auditory processing skills.

Visuospatial Tasks

Activities that require an individual to use visualization and spatial reasoning to solve problems or complete tasks.