Which Statement About Nominal and Real GDP Is Incorrect

question 214

Multiple Choice

Which statement about nominal and real GDP is incorrect?

• A) Real GDP per person is a better measure of standard of living than nominal GDP per person.
• B) Nominal GDP includes products and services produced within a country's borders, no matter what the nationality of the business doing the producing.
• C) Real GDP is measured as a flow.
• D) Nominal GDP is measured as a flow.
• E) If nominal GDP is higher this year than last year, there must be positive economic growth.

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Definitions:

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