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What is meant by 'GDP at current prices'?

AValue calculated using prices from a past base year

BValue calculated using current year production costs

CValue calculated using price prevailing in the year of production

DValue adjusted for inflation

Answer:

C. Value calculated using price prevailing in the year of production

Read Explanation:

  • 'GDP at current prices' (nominal GDP) means the money value of final goods and services is calculated using the prices prevailing in the production year


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