Nominal GDP is
A) GDP valued at prices of that year.
B) real GDP valued at base year prices.
C) real GDP adjusted for price changes.
D) GDP valued at constant prices.
Correct Answer:
Verified
Q113: In the circular flow diagram, aggregate expenditure
Q114: An indirect tax is a tax paid
Q115: If imports are $100 million less than
Q116: An economic expansion rather than a recession
Q117: GDP can be computed as the sum
Q119: If an Australian firm produces goods that
Q120: An expansion
A)is defined as a period of
Q121: In the circular flow diagram, aggregate expenditure
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents