Chain-weighted measures of real GDP make use of prices from:
A) an unchanging base year.
B) a continuously changing base year.
C) a base year that is changed approximately every 5 years.
D) a base year that is changed approximately every 10 years.

Question

Quizplus · Accepted Answer

Chain-weighted measures of real GDP make use of prices from a continuously changing base year, in order to more accurately reflect changes in relative prices and the composition of output over time. This approach is different from fixed-weighted measures, which use prices from a single base year and can become less accurate over time as the economy changes.

Chain-Weighted Measures of Real GDP Make Use of Prices From