Nominal output is the _______ of goods and services produced and real output is the _______ of goods and services produced.
A) dollar value; actual amount
B) actual amount; dollar value
C) actual amount; dollar value with inflation
D) dollar value with inflation; dollar value without inflation

Question

Quizplus · Accepted Answer

Nominal output refers to the dollar value of goods and services produced, not adjusted for inflation. Real output, on the other hand, refers to the actual amount of goods and services produced, adjusted for inflation.

Nominal Output Is the _______ of Goods and Services Produced