In What Way Does Nominal GDP Differ from Real GDP

question 83

Multiple Choice

In what way does nominal GDP differ from real GDP?

• A)Nominal GDP tends to increase when total production of output in the economy increases, while real GDP does not.
• B)Nominal GDP is measured in base-year prices, while real GDP is measured in current-year prices.
• C)Nominal GDP is measured in current-year prices, while real GDP is measured in base-year prices.
• D)Nominal GDP does not exclude taxes paid to the government, while real GDP does.

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