What is the difference between nominal and real GDP?
A) Nominal GDP is adjusted for changes in the price level;real GDP is not.
B) Real GDP is adjusted for taxes and transfer payments;nominal GDP is not.
C) Real GDP is adjusted for changes in the price level;nominal GDP is not.
D) Nominal GDP is adjusted for depreciation;real GDP is not.
E) Real GDP is adjusted for depreciation;nominal GDP is not.
Correct Answer:
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