There are two ways to express GDP, Nominal GDP and Real GDP. What is the difference between the two?
AReal GDP adjusts for inflation while Nominal GDP includes inflation.
BReal GDP includes price increases while Nominal GDP does not include price increases.
CReal GDP includes more goods and services in its calculation than Nominal GDP.
AReal GDP adjusts for inflation while Nominal GDP includes inflation.
BReal GDP includes price increases while Nominal GDP does not include price increases.
CReal GDP includes more goods and services in its calculation than Nominal GDP.