The two factors that make up nominal GDP are which of the following?
A)aggregate supply and demand
B)the overall price level and real GDP
C)fiscal and monetary policy
D)transfer payments and taxes

Question

Quizplus · Accepted Answer

Nominal GDP is calculated using the overall price level and real GDP. Real GDP measures the value of goods and services produced in an economy, while the overall price level measures the average price of those goods and services. Nominal GDP is simply the product of these two factors.

The Two Factors That Make Up Nominal GDP Are Which