If the real gross domestic product (GDP)for the base year is $4 trillion,then the nominal gross domestic product (GDP)for that year is _____.
A)−$.04 trillion
B)$0.4 trillion
C)$4 trillion
D)$40 trillion
E)$400 trillion

Question

Quizplus · Accepted Answer

Nominal GDP for the base year is equal to the real GDP. Therefore, if the real GDP is $4 trillion, then the nominal GDP is also $4 trillion.

If the Real Gross Domestic Product (GDP)for the Base Year