What Is the Difference Between Nominal and Real GDP

Multiple Choice

What is the difference between nominal and real GDP?

A) Nominal GDP values production at current prices, while real GDP values production at constant prices.
B) Nominal GDP values production at constant prices, while real GDP values production at current prices.
C) Nominal GDP values production at market prices, while real GDP values production at the cost of the resources used in the production process.
D) Nominal GDP consistently underestimates the value of production, while real GDP consistently overestimates the value of production.