Nominal GDP Means That the Value of All Goods and Services

question 99

Multiple Choice

Nominal GDP means that the value of all goods and services is measured in ________ prices.

• A) average
• B) last year's
• C) the base year's
• D) current
• E) constant

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Definitions:

Reparations

Compensation given for abuse or injury, often discussed in the context of compensating the descendants of enslaved Africans in the Americas and elsewhere.

Commission

A body officially charged with particular functions and duties, often within the public sector.

Legislation

Laws or legal rules that have been enacted by a governing body, such as a parliament or legislature, in order to regulate, permit, provide, sanction, grant, or declare policy.

John Conyers, Jr.

A prominent African American politician and civil rights activist who served as a member of the United States House of Representatives for over five decades.