Nominal GDP is:
A) inflation-adjusted GDP.
B) real GDP minus depreciation.
C) current-dollar GDP.
D) constant-dollar GDP.

Question

Quizplus · Accepted Answer

Nominal GDP refers to the value of final goods and services produced in a given year, measured in current prices. It is not adjusted for inflation or changes in purchasing power, making it different from real GDP (which is adjusted for inflation) and constant-dollar GDP (which uses a fixed price level from a base year).

Nominal GDP Is