From 2009 to 2010,nominal gross domestic product (GDP) in the United States increased by 3.8%.Does this mean that the U.S.economy actually grew during that time period?
A) Yes, because that is what nominal GDP measures.
B) Yes, because nominal GDP takes into account changes in prices and the population.
C) No, because nominal GDP only considers changes in prices, not population growth.
D) No, because nominal GDP only considers population growth, not changes in prices.
E) No, because that number ignores changes in prices and population growth.
Correct Answer:
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