Choose the Correct Statement

Choose the correct statement.

A) When nominal GDP increases, real GDP decreases.
B) Nominal GDP is just a more precise name for real GDP.
C) We measure the change in production by comparing nominal GDP in one year with real GDP in the previous year.
D) Nominal GDP is just a more precise name for GDP.
E) Nominal GDP and real GDP both increase when the average level of prices increase.

Correct Answer:

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