The difference between nominal and real GDP is which of the following?
A) Real GDP has been adjusted for price changes.
B) Nominal GDP refers to last year's GDP, whereas real GDP is for the current fiscal year.
C) Real GDP is adjusted for depreciation whereas nominal GDP is not.
D) Nominal GDP has been adjusted for price changes.
Correct Answer:
Verified
Q2: Ceteris paribus, increases in government spending _
Q3: When a price index moves up or
Q4: The change in the domestic price level
Q5: _explains why price level decreases for a
Q6: When the price level changes, the quantity
Q8: In measuring the health of the economy,
Q9: An increase in aggregate demand will initially
Q10: An increase in aggregate demand will initially
Q11: Aggregate demand is
A)the quantity of real goods
Q12: Aggregate demand changes in response to which
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