Real GDP is the
A) Value of output produced,including the nonmarket activities that are not counted in nominal GDP.
B) Value of final output produced in a given period,adjusted for changing prices.
C) Value of final output produced in a given period measured in current prices.
D) Intangible quality of goods and services produced in the economy.
Correct Answer:
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Q21: If a farmer grows a head of
Q22: The sum of value added
A)Measures the intangible
Q23: Which of the following is directly included
Q24: Real GDP is used most effectively to
A)Measure
Q25: Suppose the total market value of all
Q27: Which of the following would not be
Q28: Which of the following is not a
Q29: Value added is the
A)Addition to GDP because
Q30: A computer manufacturer sells laptops to retail
Q31: Real GDP is more accurate than nominal
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