Mueconlab unit 2

What is the distinction between nominal GDP and real GDP? Nominal GDP is Real GDP is O A. the value of final goods and services produced in a given year when valued at the prices of a reference base year; the value of the final goods and services produced in a given year valued at the prices of that year O B. another name for real GDP; calculated as the quantity produced in the base year multiplied by the prices that prevailed in the given year O C. the value of the final goods and services produced in a given year valued at the prices of that year, a measure that reveals changes in price and production O D. a more precise name for GDP; the value of final goods and services produced in a given year when valued at the prices of a reference base year