Nominal GDP is measured in _____, and real GDP is measured in:
A) current market outputs; constant outputs.
B) constant outputs; current market outputs.
C) constant prices; current market prices.
D) current market prices; constant prices.

Question

Quizplus · Accepted Answer

Nominal GDP is measured in current market prices, reflecting the prices at which goods and services are sold in the market during the year of measurement. Real GDP, on the other hand, is measured in constant prices, using the prices of a base year to remove the effects of inflation and provide a more accurate measure of economic growth.

Nominal GDP Is Measured in _____, and Real GDP Is