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Which of the following concerning nominal and real GDP is true? (1 point) The sum of all transactions at the current prices will equal real
Which of the following concerning nominal and real GDP is true? (1 point) The sum of all transactions at the current prices will equal real expenditure. The nominal value of all transactions uses past or constant prices to calculate their value. Nominal values better capture the changes in living standards since inflation is excluded. The real value of a sum of transactions will use current quantities but a constant set of prices. Nominal values exclude price level changes, while real values include price level changes
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