Multiple Choice
In what way does nominal GDP differ from real GDP?
A) Nominal GDP tends to increase when total production of output in the economy increases, while real GDP does not.
B) Nominal GDP is measured in base-year prices, while real GDP is measured in current-year prices.
C) Nominal GDP is measured in current-year prices, while real GDP is measured in base-year prices.
D) Nominal GDP does not exclude taxes paid to the government, while real GDP does.
Correct Answer:

Verified
Correct Answer:
Verified
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