Real GDP measures the ______ of production; nominal GDP measures the ______ of production.
A) current dollar value; physical volume
B) current dollar value; current dollar value
C) current dollar value; market value
D) physical volume; current dollar value
Correct Answer:
Verified
Q105: Assume an economy produces only hamburgers and
Q106: Assume an economy produces only footballs and
Q106: A measure of GDP in which quantities
Q107: Assume an economy produces only hamburgers and
Q112: To compare the change in physical production
Q113: Capital income includes:
A)profits, rent, and interest.
B)wages and
Q113: Labor income in the U.S.equals approximately _
Q124: In the base year, real GDP _
Q127: If prices in the current year are
Q128: Nominal GDP measures the _ of production.
A)change
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