Differences Between Real and Nominal GDP
What is the primary difference between real GDP and nominal GDP?
A
Nominal GDP removes the effects of price level changes from real GDP.
B
Real GDP includes the dollar value of services, whereas nominal GDP includes only the dollar value of tangible goods.
C
Nominal GDP includes the dollar value of services, whereas real GDP includes only the dollar value of tangible goods.
D
Real GDP removes the effects of price level changes from nominal GDP.
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