Nominal GDP is:
A)the sum of all monetary transactions which occur in the economy in a year.
B)the sum of all monetary transactions involving final goods and services which occur in the economy in a year.
C)the amount of production which occurs when the economy is operating at full employment.
D)money GDP adjusted for inflation.

Question

Quizplus · Accepted Answer

Nominal GDP is the sum total of all the monetary transactions involving final goods and services that happen within an economy in a given period, typically a year.

Nominal GDP Is