National product at current prices is higher than national product at constant prices during a period of :

Question

Quizplus · Accepted Answer

National product at current prices, also known as nominal GDP, reflects the value of all goods and services produced by a country at current market prices. During a period of rising prices, or inflation, the nominal GDP is higher than the real GDP, which is adjusted for price changes and calculated at constant prices. This is because the increase in prices makes the total value of goods and services at current prices higher than when those prices are held constant.

National Product at Current Prices Is Higher Than National Product