Nominal GDP is GDP
A) after adjusting for any price changes.
B) that ignores depreciation.
C) using current market values.
D) minus depreciation.
E) during a recession.
Correct Answer:
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Q21: Q22: If consumption was 70 per cent of Q23: Adding wages, interest, rent and profits yields Q24: The expenditure approach values _ and the Q25: The income approach measures GDP by summing Q27: Nominal GDP increases Q28: Nominal GDP measures the value of goods Q29: Total expenditure equals total income Q30: Everything else the same, if government expenditure Q31: In comparing the magnitudes of the components
A)
A)
A) only if the productivity
A) because firms
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