If a country’s nominal GDP increases, it means the country is producing more goods and services. State true or false.

True

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False

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Solution

The correct option is B
False

Nominal GDP refers to market value of the final goods and services produced within the domestic territory of a country during a financial year using the current year prices. Real GDP is what reflects real production.

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If a country’s nominal GDP increases, it means the country is producing more goods and services. State true or false.

The correct option is B False Nominal GDP refers to market value of the final goods and services produced within the domestic territory of a country during a financial year using the current year prices. Real GDP is what reflects real production.

The correct option is B
False

Nominal GDP refers to market value of the final goods and services produced within the domestic territory of a country during a financial year using the current year prices. Real GDP is what reflects real production.