Nominal GDP measures
A)the total quantity of final goods and services produced.
B)the dollar value of the economy's output of final goods and services.
C)the total income received from producing final goods and services measured in constant dollars.
D)the overall level of prices.

Question

Quizplus · Accepted Answer

Nominal GDP measures the dollar value of a country's output of final goods and services in a given year, without adjusting for inflation or changes in prices. It is simply a measure of the total amount spent on final goods and services in the economy.

Nominal GDP Measures