Which statement represents most correctly the relationship between nominal GDP and real GDP?
a. Nominal GDP measures base-year production using base-year prices, whereas real GDP measures current production using current prices.
b. Nominal GDP measures current production using base-year prices, whereas real GDP measures current production using current prices.
c. Nominal GDP measures current production using current prices, whereas real GDP measures current production using base-year prices.
d. Nominal GDP measures current production using current prices, whereas real GDP measures base-year production using base-year prices.
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