Nominal GDP measures the value of goods and services produced in a given year valued using
A) base year prices.
B) future prices.
C) prices of the same year.
D) constant prices.
E) no prices.
C
Economics
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The total market value of final goods and services produced in an economy during a one-year period is
A) personal income. B) profit. C) net national product. D) Gross Domestic Product.
Economics
Explain why real GDP might be an unreliable indicator of the standard of living
What will be an ideal response?
Economics