Nominal GDP measures the value of goods and services in ______ prices, while real GDP measures the value of goods and services in ______ prices.
A) foreign; domestic
B) domestic; foreign
C) current; constant
D) constant; current
Correct Answer:
Verified
Q55: Real GDP is a better measure of
Q56: In the national income accounts, the purchase
Q57: If total consumption (measured in billions of
Q58: In the national income accounts, government purchases
Q59: If nominal GDP increased by 5 percent
Q61: GNP equals GDP _ income earned domestically
Q62: The CPI is determined by computing:
A) an
Q63: In 2013 in the United States, the
Q64: In 2013, the GDP of the United
Q65: An increase in the price of goods
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents