Economics · National Income
Which of the following correctly distinguishes nominal GDP from real GDP?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Real GDP ignores quantity changes
- 2Nominal GDP reflects both price and quantity changes✓
- 3Real GDP is measured at current prices
- 4Nominal GDP is adjusted for price changes
Correct answer
Nominal GDP reflects both price and quantity changes
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