Answer: False
Explanation: Real GDP measures base year production using base year prices.
Nominal GDP measures base year production using current year prices.
A base year price in relation to the calculation of Real GDP is the value of a good or service produced in the current year using a previous year price.
A base year is a year chosen to minimise the effect of inflation when calculating GDP.
Current year price is the market price of the product during a given year.
