The implicit price level is:
A) the ratio of nominal to real GDP.
B) the product of real and nominal GDP.
C) the ratio of real to nominal GDP
D) the difference between real and nominal GDP.
Correct Answer:
Verified
Q1: Nominal GDP measures the euro (dollar, British
Q2: Value added is the difference between costs
Q4: Personal consumption expenditure includes:
A)services.
B)residential structures.
C)imports.
D)all of the
Q5: GDP is a complete measure of economic
Q6: GDP ignores welfare changes due to environmental
Q7: GDP does not:
A)consider changes in the distribution
Q8: Personal Consumption expenditure includes:
A)changes in business inventories.
B)nondurables.
C)imports.
D)all
Q9: Real GDP is GDP:
A)in constant dollars.
B)in current
Q10: The difference between GDP and NNP is
Q11: Gross private domestic investment includes
A)durable goods.
B)residential structures.
C)financial
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents