Multiple Choice
Suppose nominal GDP was $360 billion in year 1 and $450 billion in year 2. The price index was 120 in year 1 and 125 in year 2. Between year 1 and year 2, real GDP
A) increased by $60 billion.
B) decreased by $32 billion.
C) increased by $100 billion.
D) increased by $117 billion.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: The concept of net domestic investment refers
Q9: <span class="ql-formula" data-value="\begin{array} { | l |
Q10: <span class="ql-formula" data-value="\begin{array} { | r |
Q11: A nation's capital stock was valued at
Q12: GDP excludes<br>A) the market value of unpaid
Q14: If in some year gross investment was
Q15: Transfer payments are<br>A) excluded when calculating GDP
Q16: Real GDP measures<br>A) current output at current
Q17: <span class="ql-formula" data-value="\begin{array} { | l |
Q18: Tom Atoe grows fruits and vegetables for