Economics Study Set 4
Quiz 19: GDP: Measuring Total Production and Income
Refer to Table 19-9
Refer to Table 19-9.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is A) 2008. B) 2009. C) 2010. D) 2011.
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Refer to Table 19-10.Real GDP for Vicuna for 2009 using 2011 as the base year equals A) $4,620. B) $5,100. C) $5,650. D) $5,850.
Refer to Table 19-10.Nominal GDP for Vicuna for 2009 equals A) $4,920. B) $5,100. C) $5,300. D) $5,850.
If the quantity of goods and services produced in the economy decreases, A) it may be possible for real GDP to increase. B) real GDP would certainly increase. C) it may be possible for nominal GDP to increase. D) nominal GDP would certainly increase.
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