Question : ______________ refers to production of goods and services valued at current price.
Option 1: Nominal GDP
Option 2: Real GDP
Option 3: GDP deflator
Option 4: Real national income
Correct Answer: Nominal GDP
Solution :
Question : Which of the following reflects the growth of an economy?
Question : ___________________ is the money value of final goods and services produced by the nominal resident of a country in a year, measured at this year‘s price.
Question : GDP deflator =
Question : ____________________ is the money value of final goods and services produced by normal resident of a country in an year, measured at the prices of current year.
Question : The ratio between the nominal and real GDP is called ____.
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