Multiple Choice
The term "real GDP" refers to:
A) the value of the domestic output after adjustments have been made for environmental pollution and changes in the distribution of income.
B) GDP data which embody changes in the price level, but not changes in physical output.
C) GDP data which reflect changes in both physical output and the price level.
D) GDP data which have been adjusted for changes in the price level.
Correct Answer:
Verified
Correct Answer:
Verified
Q6: The GDP deflator or price index equals<br>A)gross
Q36: All expenditures on new construction are included
Q39: If we add up the figures for
Q41: When an economy's production capacity is expanding:<br>A)nominal
Q43: All figures are in billions of dollars.
Q45: Nondurable goods are products:<br>A)with expected lives of
Q46: Economists define investment to include:<br>A)any increase in
Q47: Welfare payments to families with dependent children
Q48: In an economy, the value of inventories
Q49: Disposable income differs from personal income by:<br>A)personal