Nominal GDP in terms of is represented by how much money there is and how many times it is spent, while Nominal GDP in terms of------------- is represented by all goods and services and their prices.
A)buyers & sellers
B)domestic production & international production
C)profit & loss
D)imports & exports

Question

Nominal GDP in terms of is represented by how much money there is and how many times it is spent, while Nominal GDP in terms of------------- is represented by all goods and services and their prices.
A)buyers & sellers
B)domestic production & international production
C)profit & loss
D)imports & exports

Quizplus · Accepted Answer

Nominal GDP can be viewed in terms of the total money spent (buyers & sellers) or in terms of the total value of goods and services produced, which involves their prices.

Nominal GDP in Terms of Is Represented by How Much