Question
If economists calculate the GDP for 2009, using current prices of year 2009, what are they estimating?
depreciation
net national product
nominal GDP
real GDP
Answers
GPT-4o mini
If economists calculate the GDP for 2009 using current prices of the year 2009, they are estimating **nominal GDP**. Nominal GDP measures a country's economic output without adjusting for inflation, meaning it reflects the total value of goods and services produced in a given year at the prices existing in that same year.