Multiple Choice
How are nominal GDP and real GDP related?
A) Nominal GDP measures base-year production using base-year prices, while real GDP measures current production using current prices.
B) Nominal GDP measures current production using base-year prices, while real GDP measures current production using current prices.
C) Nominal GDP measures current production using current prices, while real GDP measures current production using base-year prices.
D) Nominal GDP measures current production using current prices, while real GDP measures base-year production using base-year prices.
Correct Answer:
Verified
Correct Answer:
Verified
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