Differences in nominal GDP between years can be due to either price changes or quantity changes.

Name: Differences in nominal GDP between years can be due to either price changes or quantity changes.
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Nominal GDP measures the total value of goods and services produced in an economy in current prices. Changes in nominal GDP can occur due to price changes (inflation or deflation) or quantity changes (increases or decreases in the output of goods and services).

Differences in Nominal GDP Between Years Can Be Due to Either