Chapter mank07t, Section 168, Problem 010 hich of the following statements about
ID: 1164754 • Letter: C
Question
Chapter mank07t, Section 168, Problem 010 hich of the following statements about GDP is correct? A. Nominal GDP values production at current prices, whereas real GDP values production at constant prices B. Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production proces C. Nominal GDP values production at the cost of the resources used in the production process, whereas real GDP values production at market price D. Nominal GDP values production at constant prices, whereas real GDP values production at current prices Continue without savingExplanation / Answer
"A"
Nominal GDP is all about the production at the current price and real GDP is all about the production at a constant price or the base price. The answer is A.