The nominal GDP in that year will be $4018 billion.
<h3>What is Nominal GDP?</h3>
Nominal gross domestic product is GDP calculated using the most recent market prices. GDP measures the monetary worth of all the goods and services a nation produces. NominalGDP differs from real GDP in that it considers inflation, which represents how quickly prices are rising in an economy.
The monetary worth of the products and services produced is the standard way to calculate GDP.
Nominal GDP can overstate the growth rate because it does not account for the rate of price increases when comparing one period to another.
Growing pricing rather than increasing the number of goods and services produced may cause nominal GDP growth from year to year.
Nominal GDP is the starting point, whereas real GDP includes price changes.
we know that
Nominal GDP = Real GDP × Price index
Nominal GDP = $3668 × .112
Nominal GDP = $4018
hence, the nominal GDP in that year will be $4018 billion.
To learn more about Nominal GDP with the given link
I think the correct answer from the choices listed above is option B. My suggestion for Jessica would be to ask <span>the manager what positions are available and list a specific position. Hope this answers the question. Have a nice day. </span>
The correct answer for the question that is being presented above is this one: "hidden unemployment." The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of hidden employment.
