What Is the Difference Between Nominal and Real GDP

question 219

Multiple Choice

What is the difference between nominal and real GDP?

• A) Nominal GDP is adjusted for changes in the price level;real GDP is not.
• B) Real GDP is adjusted for taxes and transfer payments;nominal GDP is not.
• C) Real GDP is adjusted for changes in the price level;nominal GDP is not.
• D) Nominal GDP is adjusted for depreciation;real GDP is not.
• E) Real GDP is adjusted for depreciation;nominal GDP is not.

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