Which of the following relationships do forecasters use to make their one-year-ahead predictions for real GDP?
A) Real GDP is the sum of consumption, investment, government purchases, and net exports.
B) Real GDP is determined by the amount of capital, labor, and technology employed in the economy.
C) Real GDP is determined by the capital and labor employed in the economy.
D) Real GDP in any year should equal real GDP in the previous year.
E) Real GDP equals nominal GDP during the base year.
Correct Answer:
Verified
Q45: The type of forecast that describes what
Q46: Suppose real GDP in 2015 is $6,105
Q47: Which of the following statements is true?
A)Most
Q48: A conditional forecast of real GDP is
A)a
Q49: An improvement in consumer confidence will affect
Q51: To simplify the analysis, the textbook assumes
Q52: What is meant by a conditional forecast,
Q53: Economic forecasters seldom differ in their one-year-ahead
Q54: One year-ahead-forecasts for real GDP
A)reflect forecasters' beliefs
Q55: Suppose real GDP in 2015 is $15,500
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