Economics GCSE
Nominal GDP
What Nominal GDP means in Economics GCSE, as defined for AQA.
Definition of Nominal GDP
Check what you remember
Read the wording for your board, then hide it and explain Nominal GDP in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
A measure that uses current prices, which can be misleading if prices rise.
Topics that use Nominal GDP
- Economic growth (AQA GCSE)
Related terms
- Externalities
- Factors of production
- Fiscal policy
- GDP per capita
- Inflation
- Monetary policy
- Real GDP
- Supply-side policies
Using Nominal GDP in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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