2.24 Which of the following statements about nominal GDP is true? [1] it grows when prices rise and output is constant [2] it accounts for inflation [3] it is measured at base year prices [4] it accounts for price changes 2.25 Suppose the total value of goods and services in South Africa increased from R650 m in 2019 to R675 million in 2020, while the quantity of goods and services produced rema the same. Which one of the following statements is correct? [1] nominal GDP increased; real GDP decreased [2] nominal GDP is unchanged; real GDP increased [3] nominal GDP increased; real GDP is unchanged [4] nominal GDP decreased; real GDP is unhanged