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
Q14: Nominal GDP in Canada includes
A) illegally purchased
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Q16: When real GDP increases, what could not
Q17: The gross domestic product of a country
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Q20: Which event increases Canada's nominal GDP?
A) Andreas
Q21: Differences in real GDP between years can
Q22: Nominal GDP is measured as a flow.
Q23: Nominal GDP is measured as a flow,
Q24: Real GDP per person is the best
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