Question

Distinguish between nominal
GNP and Real GNP​

Answer 1

Explanation:

Nominal GNP (Gross National Product) reflects an economy’s production in current prices,

unadjusted for inflation. Real GDP, on the other hand, adjusts for inflation and reflects an economy’s production in constant prices. For example, if you produce 2 oranges this year and they are worth $100, your Nominal GNP is $200. Next year, if you still produce two oranges, but they are worth $120, your Nominal GNP is $240 (+20%), but your Real GNP is still $200, because you keep the prices steady.

follow me and mark as brainalist