What is the diffrence between Real and Nominal GDP? - ProProfs Discuss
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What is the diffrence between Real and Nominal GDP?



A. Measured by excluding some of the sectors
B. That real GDP is always smaller than Nominal GDP
C. Change in price level from base year to current year
D. None of the above.

This question is part of Macroeconomics Practice Quiz
Asked by Muhammadakram, Last updated: May 25, 2020

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5 Answers

John Adney

John Adney

Answered Oct 18, 2017

Change in price level from base year to current year

 

John Adney

John Adney

Answered Jan 09, 2017

Nominal GDP = C+ I + G + NX
Real GDP = nominal GDP / CPI for current year
 

John Adney

John Adney

Answered Dec 07, 2016

1/a 2/d 3/ b 4/d 5/c
 

John Adney

John Adney

Answered Dec 04, 2016

Change in price level
 

John Smith

John Smith

Answered Nov 06, 2016

Change in price level from base year to current year
 1

John Adney

John Adney

Replied on Jun 29, 2017

Change in price level from base year to current year

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