Nominal values are
A) measured in terms of actual market prices at which the goods are sold.
B) based on inflation-adjustments.
C) based on Gross Domestic Product (GDP) per capita.
D) measured in terms of total purchasing power.

Question

Quizplus · Accepted Answer

Nominal values refer to the actual market prices at which goods are sold, without any adjustments for inflation or other changes in purchasing power. Therefore, option A is the correct answer. Option B is incorrect because nominal values are not based on inflation-adjustments. Option C is incorrect because GDP per capita is a measure of economic activity, not a measure of nominal values. Option D is incorrect because nominal values are not measured in terms of total purchasing power, but rather in terms of actual market prices.

Nominal Values Are