Which of the following is true of real GDP?
A) It measures a nation's output in terms of current year prices.
B) It measures a nation's output in constant year prices.
C) It measures the degree of change in the general price level in an economy.
D) It measures the change in the value of an economy's output.
E) It measures the value of both intermediate and final goods and services produced in an economy.
Correct Answer:
Verified
Q49: If nominal GDP of a country increased
Q50: Personal income is equal to:
A)national income plus
Q51: The table given below reports the value
Q52: Scenario 5.1 Suppose that personal income is
Q53: The table given below reports the value
Q55: Scenario 5.1 Suppose that personal income is
Q56: The table given below reports the value
Q57: National income is the sum of:
A)personal income
Q58: The table given below reports the value
Q59: Scenario 5.1 Suppose that personal income is
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