The adjective real, in the term real GDP, is used to indicate that
A) it is the perfect measure of what is produced.
B) this measure of output is official as opposed to an unofficial measure.
C) this measure of output is adjusted for the general increase in prices over time.
D) this measure of output is adjusted for the government's economic involvement.
E) it measures only real goods and services, not the value of those that can't be measured, such as a home-cooked meal.
Correct Answer:
Verified
Q11: GDP is
A)a term used for economic growth.
B)a
Q12: GDP is the total value of all
Q13: The increase in real GDP per capita
Q14: Economic growth and economic fluctuations can occur
Q15: The economy of the United States was
Q17: The Great Recession and other economic developments
Q18: The field of economics that studies the
Q19: Over the past 50 years, the U.S.
Q20: The term per capita refers to
A)the rate
Q21: Exhibit 17-2
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