Nominal GDP is output measured in ________ prices while real GDP is output measured in ________ prices.

Name: Nominal GDP is output measured in ________ prices while real GDP is output measured in ________ prices.
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Question

Quizplus · Accepted Answer

Nominal GDP is measured using current prices, while real GDP is adjusted for inflation by measuring output using fixed prices. Therefore, choice B, which states that nominal GDP is output measured in current prices while real GDP is output measured in fixed prices, is the correct answer.

Nominal GDP Is Output Measured in ________ Prices While Real