A change in _____ will cause a change in nominal GDP.
A) policy and/or prices
B) prices and/or output
C) output and/or population
D) population and/or policy

Question

Quizplus · Accepted Answer

Nominal GDP is calculated by valuing all the goods and services produced in a country at current market prices. Therefore, changes in either prices or the quantity of output will directly affect the nominal GDP. Changes in policy or population might indirectly affect nominal GDP by influencing prices or output, but they are not direct components in its calculation.

A Change in _____ Will Cause a Change in Nominal