The values of variables such as GDP expressed in current dollars are referred to as
A) the price index.
B) a deflator.
C) nominal values.
D) real values.

Question

Quizplus · Accepted Answer

Nominal values represent the actual monetary value of an economic variable, such as GDP, without any adjustment for inflation or other factors. They are expressed in current dollars, meaning the value is based on the price level in the current period.

The Values of Variables Such as GDP Expressed in Current