How Does Real Gross Domestic Product (GDP)differ from Nominal GDP

question 5

Multiple Choice

How does real gross domestic product (GDP) differ from nominal GDP?

• A) Nominal GDP controls for price changes, while real GDP does not.
• B) Real GDP controls for price changes, while nominal GDP does not.
• C) Nominal GDP can be used to directly compare the amount of output produced from year to year, while real GDP cannot be used for such comparison.
• D) There is no difference between nominal GDP and real GDP.

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