Which of the following statements is false?
A) Real GDP is the quantity of goods and services valued in base-year prices or base-year dollars.
B) "Aggregate demand" and the "quantity demanded of Real GDP" are the same.
C) According to the aggregate demand (AD)curve,the quantity demanded of Real GDP and the price level are inversely related.
D) Real GDP is denominated in current-year prices.
E) b and d

Question

Quizplus · Accepted Answer

B is false because "aggregate demand" refers to the total demand for all goods and services in an economy at different price levels, while the "quantity demanded of Real GDP" refers to the total amount of goods and services that are demanded at a specific price level. D is false because Real GDP is adjusted for inflation and measured in base-year prices, not current-year prices.

Which of the Following Statements Is False