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:

Cognitive Theorists

Scholars and researchers who study mental processes such as perception, memory, decision-making, and problem-solving.

Language Acquisition Device

A theoretical construct proposed by Noam Chomsky suggesting an innate mechanism or mental capacity that enables infants to acquire and produce language.

Socially Patterned Activities

Activities that are structured and influenced by societal norms and cultural practices.

Deep Structure

In linguistics, it refers to the underlying, abstract meaning of a sentence, as opposed to the surface structure which is the sentence's actual spoken or written form.