Nominal gross domestic product (GDP)is measured in terms of the _____.
A)current-year prices
B)base-year prices
C)export of goods and services
D)amount of taxes collected
E)hours of employment

Question

Quizplus · Accepted Answer

Nominal GDP is measured in terms of current-year prices, meaning it reflects the current prices of goods and services in a given year. This differs from real GDP, which is adjusted for inflation using a base year.

Nominal Gross Domestic Product (GDP)is Measured in Terms of the _____