Real GDP is a better measure of economic development than nominal GDP because
A) nominal GDP includes only tangible goods,while real GDP also includes
Intangible output such as consulting services
B) nominal GDP is what could be produced if production were perfectly efficient,whereas real GDP is a measure of what is actually produced
C) real GDP includes foreign production by US firms,but nominal GDP doesn't
D) nominal GDP rises with inflation,but real GDP doesn't
E) nominal GDP double-counts intermediate goods,while real GDP counts
Only final goods
Correct Answer:
Verified
Q4: The next questions refer to the following
Q5: The largest component of U.S.GDP is
A) the
Q6: United States GDP in constant dollars refers
Q7: Which of the following are included in
Q8: The next questions refer to the following
Q10: If a U.S.-owned manufacturing firm closes its
Q11: The next questions refer to the following
Q12: The next questions refer to the following
Q13: In the national income accounts,which of the
Q14: In most industrial economies,the largest component of
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