If GDP and other national income accounts are expressed in nominal values,then they
A)are measured in real values.
B)are measured in market prices at which goods actually sold.
C)are measured in constant prices instead of actual market prices.
D)are readily comparable to GDP figures for other years.

Question

Quizplus · Accepted Answer

If GDP and other national income accounts are expressed in nominal values, it means they are measured in market prices at which goods actually sold. Nominal values are not adjusted for inflation or changes in purchasing power over time, so they reflect the current market prices. This makes it easier to compare GDP figures between different periods or countries, but it may not accurately reflect changes in real economic growth.

If GDP and Other National Income Accounts Are Expressed in Nominal