Nominal GDP is equal to: a) Total expenditure on all final goods and services produced within the nation over a specified period of time. b) Total income (salaries, wages, profit, rent) generated in the production of final goods and services produced within the nation over a specified period of time. c) C++G+X-M, over a specified period of time. d) All of the above. e) None of the above. Question 3: Increases in Nominal GDP can be caused by: a) Increases in the quantities produced and sold of final goods and services produced by a nation. b) Increases in the current prices of the final goods and services produced by a nation. c) Increases in the monetary value of exports (X). 10
