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Which statement about nominal and real GDP is incorrect? O A. Real GDP is a better measure of standard of living than nominal GDP. OB. Nominal GDP is measured as a flow. OC. Nomina DP includes products or services produced within a country's borders, no ma OD. To calculate nominal GDP for 2013, we use the prices in 2013 and quantities in 2010.

Which statement about nominal and real GDP is incorrect? O A. Real GDP is a better measure of standard of living than nominal GDP. OB. Nominal GDP is measured as a flow. OC. Nomina DP includes products or services produced within a country's borders, no ma OD. To calculate nominal GDP for 2013, we use the prices in 2013 and quantities in 2010.

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 1P
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Which statement about nominal and real GDP is incorrect? O A. Real GDP is a better measure of standard of living than nominal GDP. OB. Nominal GDP is measured as a flow. OC. Nomina DP includes products or services produced within a country's borders, no ma OD. To calculate nominal GDP for 2013, we use the prices in 2013 and quantities in 2010.
Transcribed Image Text:Which statement about nominal and real GDP is incorrect? O A. Real GDP is a better measure of standard of living than nominal GDP. OB. Nominal GDP is measured as a flow. OC. Nomina DP includes products or services produced within a country's borders, no ma OD. To calculate nominal GDP for 2013, we use the prices in 2013 and quantities in 2010.
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