Real GDP differs from nominal GDP in that nominal GDP measures
A. output adjusted for inflation.
B. real output of goods and services.
C. output of goods and services at current prices.
D. real income adjusted for changes in the price level.
Answer: C
Economics
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What will be an ideal response?
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An increase in the actual price level does not shift the short-run aggregate supply curve, but an expected increase in the price level shifts the short-run aggregate supply curve to the left
a. True b. False Indicate whether the statement is true or false
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