Which of the following best describes nominal GDP?
A) total quantity of goods and services produced by an economic system
B) total value of all goods and services produced within a given period by a national economy through domestic factors of production measured in current dollars or with all components valued at current prices
C) total value of all goods and services produced within a given period by a national economy regardless of where the factors of production are located
D) total value of all goods and services produced within a given period by a national economy through domestic factors of production adjusted to account for changes in currency values and price changes
Correct Answer:
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