nominal gdp is dependent on\n\na. only output.\nb. the price level and output.\nc. only the price level.\nd…

nominal gdp is dependent on\n\na. only output.\nb. the price level and output.\nc. only the price level.\nd. the price level, wages and interest rates.

nominal gdp is dependent on\n\na. only output.\nb. the price level and output.\nc. only the price level.\nd. the price level, wages and interest rates.

Answer

Brief Explanations:

Nominal GDP measures the value of goods and services produced in an economy using current - year prices. Its calculation is based on the quantity of output and the current price level. Wages and interest rates are not direct components in its basic determination formula.

Answer:

B. the price level and output.