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nominal gdp is output measured in prices while real gdp is output measured in prices 637101

Nominal GDP is output measured in ________ prices while real GDP is output measured in ________ prices.

A) current; current

B) current; fixed

C) fixed; fixed

D) fixed; current

GDP measured with constant prices is referred to as

A) real GDP.

B) nominal GDP.

C) the GDP deflator.

D) industrial production.

If your nominal income in 2002 was $50,000, and prices doubled between 2002 and 2008, to have the same real income, your nominal income in 2008 must be

A) $50,000.

B) $75,000.

C) $90,000.

D) $100,000.

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