Real GDP is the
A. Value of final output produced, measured in current prices.
B. GDP minus depreciation.
C. Value of final output produced, adjusted for changing prices.
D. Income earned by current factors of production.
Answer: C
Economics
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A single supplier of a good or service for which there is no close substitute is referred to as a(n)
A) strategic competitor. B) monopoly. C) oligopoly. D) monopolistic competitor.
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