Nominal GDP is calculated using
A) the market prices during the year under consideration.
B) the prices from some base year to adjust for price changes.
C) the average of prices from the three preceding years.
D) the prices from the preceding year.

Question

Quizplus · Accepted Answer

Nominal GDP is calculated using the market prices during the year under consideration. This means that the value of all final goods and services produced in a country is calculated using their current market prices.

Nominal GDP Is Calculated Using