Asked by Jordan Pollock on May 15, 2024
Verified
Nominal GDP measures output of final goods and services in physical terms.
Nominal GDP
The gross domestic product measured in current prices, without adjustment for inflation.
- Identify the measures and differences between nominal GDP and real GDP.
Verified Answer
SP
Samra ProductionsMay 22, 2024
Final Answer :
False
Explanation :
Nominal GDP measures the value of all final goods and services produced within a country's borders in a given time period using current prices, not in physical terms.
Learning Objectives
- Identify the measures and differences between nominal GDP and real GDP.