Nominal GDP is: A. GDP adjusted for inflation B. GDP measured in current prices C. GDP adjusted for population size D. GDP measured in constant dollars
Question
Solution 1
Nominal GDP is B. GDP measured in current prices.
Here's why:
Nominal GDP refers to the economic output of a country, but it doesn't take into account the effects of inflation. Therefore, it's measured in current prices, meaning the prices that were current at the time of the output. This is why Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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