Multiple Choice
Which of the following statements is true?
A) The inclusion of intermediate goods and services into GDP calculations would underestimate our nation's production level.
B) The expenditure approach sums the compensation of employees, rents, profits, net interest and non-income expenses for depreciation and indirect business taxes.
C) Real GDP has been adjusted for changes in the general level of prices due to inflation.
D) Real GDP equals nominal GDP multiplied by the GDP deflator.
Correct Answer:

Verified
Correct Answer:
Verified
Q31: Nominal GDP is based on:<br>A) the existing
Q32: Real GDP measures a value of a
Q33: The portion of the circular flow model
Q34: Narrbegin Exhibit 11.3 GDP data (billions
Q35: Which of the following purchases would be
Q37: Resources that flow through the circular flow
Q38: The circular flow model represents the establishment
Q39: Gross domestic product includes:<br>A) intermediate as well
Q40: Gross domestic product (GDP) is a correct
Q41: In economics, the term 'investment' refers to:<br>A)