Multiple Choice
Which statement about nominal and real GDP is incorrect?
A) Real GDP per person is a better measure of standard of living than nominal GDP per person.
B) Nominal GDP includes products and services produced within a country's borders, no matter what the nationality of the business doing the producing.
C) Real GDP is measured as a stock.
D) Nominal GDP is measured as a flow.
E) If real GDP is higher this year than last year, this indicates positive economic growth.
Correct Answer:

Verified
Correct Answer:
Verified
Q44: In calculating Canadian GDP, imports are subtracted
Q45: The concept of creative destruction was introduced
Q46: Aggregate expenditure is $200. Consumers pay $70
Q47: The sum of all value added equals
Q48: At potential GDP, the smart choices of
Q51: Economic growth is represented on a macro
Q52: Smokie Joe, a known drug-dealer, buys a
Q53: The population of West Moreland is 200,000
Q54: A movement along a macro production possibilities
Q87: If real GDP is $200 billion but