A new chain-weighted measure of real GDP
A)was introduced by the Bureau of Economic Analysis in 1995.
B)uses the average of prices in a given year and prices in the previous year instead of using prices in a base year as weights.
C)differs greatly from previous measures that utilized the base year method.
D)Both a and b
E)All of the above

Question

Quizplus · Accepted Answer

The new chain-weighted measure of real GDP was introduced by the Bureau of Economic Analysis in 1995 and uses the average of prices in a given year and prices in the previous year instead of using prices in a base year as weights. This differs greatly from previous measures that utilized the base year method.

A New Chain-Weighted Measure of Real GDP