Which of the following statements about GDP is correct?
A) Nominal GDP values production at current prices,whereas real GDP values production at constant prices.
B) Nominal GDP values production at constant prices,whereas real GDP values production at current prices.
C) Nominal GDP values production at market prices,whereas real GDP values production at the cost of the resources used in the production process.
D) Nominal GDP values production at the cost of the resources used in the production process,whereas real GDP values production at market prices.
Correct Answer:
Verified
Q7: Real GDP will increase
A)only when prices increase.
B)only
Q8: Which of the following always uses prices
Q9: Which of the following is correct?
A)Nominal GDP
Q10: Changes in nominal GDP reflect
A)only changes in
Q11: In the base year,the GDP deflator is
Q13: If total spending rises from one year
Q14: Nominal GDP will definitely increase when
A)prices increase
Q16: If the prices of all goods and
Q17: Which of the following statements about nominal
Q215: When economists talk about growth in the
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