GDP measured using current prices is called:
A) Nominal GDP
B) Real GDP
C) Constant GDP
D) Deflated GDP

Question

Quizplus · Accepted Answer

Nominal GDP is the calculation of GDP without adjusting for inflation, and is measured using current prices of goods and services in a given year. It doesn't account for the changes in the value of money over time, making it a less accurate reflection of economic growth compared to Real GDP, which adjusts for inflation.

GDP Measured Using Current Prices Is Called