How is nominal GDP converted into real GDP?
(A) By eliminating the effects of price increases on GDP growth.
(B) By adding up all of the real purchases made in the economy.
(C) By adding the contributions of American-owned factories in foreign countries.
(D) By adding all incomes earned to total expenditures by consumers, businesses, and government.
Ans: (A) By eliminating the effects of price increases on GDP growth.
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