If GDP rose from $6 trillion in the base year to $8 trillion in the current year and there was deflation during this period,what is the most accurate statement we can make?
A) Real GDP declined between the base year and the current year.
B) Real GDP rose by less than one-third between the base year and the current year.
C) Real GDP rose by one-third between the base year and the current year.
D) Real GDP rose by more than one-third between the base year and the current year.
Correct Answer:
Verified
Q52: Wages are used to calculate
A)GDP by the
Q53: GDP will grow faster than real GDP
Q54: Gross Domestic Product would be a more
Q55: National income measures
A)nominal GDP after it has
Q56: GDP is
A)the market value of an economy's
Q58: Which of the following is not a
Q59: For purposes of calculating GDP using the
Q60: The change in the United States from
Q61: GDP is
A)the sum of all monetary transactions
Q62: Suppose that our GDP fell from one
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