Multiple Choice
Real GDP measures
A) the annual growth rate of real national income.
B) the constant- dollar value of the potential output of the nation's economy over the period of one year.
C) the fluctuations of national income around its long- term trend.
D) the quantity of total output produced by the nation's economy over the period of one year.
E) the long- term trend in total output produced by the nation's economy.
Correct Answer:

Verified
Correct Answer:
Verified
Q9: On a graph showing real national income
Q10: Macroeconomics is mainly concerned with the study
Q11: Consider a small economy with 3 individuals
Q12: On a graph showing real national income
Q13: In macroeconomics, the "output gap" is the
Q15: Suppose the city of Calgary, Alberta has
Q16: If constant- dollar national income decreased by
Q17: The unemployment rate will overstate the true
Q18: If the price index is P<sub>1</sub><sub> </sub>in
Q19: Suppose the Bank of Montreal wants a