Which 3 of the following statements are correct with regards to the concepts nominal and real GDP?
Select one or more:
An increase in prices has no impact on the value of real GDP.
An increase in real GDP of 4% indicates that prices rose by 4%.
In the base year real GDP is equal to nominal GDP.
The base year for determining the value of real GDP in South Africa is 2010.
The KBP time series that can used to extract data on nominal GDP is 6006J.
Real GDP is measured at current prices