_____ is measured in terms of current-year prices.
A)Nominal gross domestic product (GDP)
B)GDP price index
C)Real gross domestic product (GDP)
D)Arbitrage
E)Depreciation

Question

Quizplus · Accepted Answer

Nominal GDP is measured in current-year prices, which reflects the current level of prices and inflation. It does not take into account the effects of inflation on the value of goods and services produced, unlike real GDP which is adjusted for inflation. GDP price index is a measure of inflation, and depreciation is a reduction in the value of assets over time. Arbitrage refers to the practice of taking advantage of price differences in different markets.

_____ Is Measured in Terms of Current-Year Prices