Statement 1: Nominal GDP is a better measure to make periodic comparison in the physical output of goods and services over different years.

Statement 2: Nominal GDP is affected by change in physical output only and not by change in price.


(a) Both the Statements are true

(b) Both the Statements are false

(c) Statement 1 is true and Statement 2 is false

(d) Statement 2 is true and Statement 1 is false

Anurag Pathak Changed status to publish December 10, 2023
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