Nominal GDP is GDP in a given year
A)adjusted for inflation.
B)adjusted for anticipated inflation.
C)valued in the prices of that year.
D)valued in the prices of the base year.

Question

Quizplus · Accepted Answer

Nominal GDP is the sum of all final goods and services produced in an economy in a given year, valued at the current market prices at the time of production. Therefore, it is valued in the prices of that year and not adjusted for inflation.

Nominal GDP Is GDP in a Given Year