Real GDP means GDP:
A. valued at prices in a base year.
B. that does not change from year to year.
C. corrected for changes in quality.
D. valued at prices at which goods are actually sold.
Answer: A
Economics
You might also like to view...
Last year a country had exports of $100 billion, imports of $70 billion, and purchased $60 billion worth of foreign assets. What was the value of domestic assets purchased by foreigners?
a. $70 billion b. $40 billion c. $30 billion d. $10 billion
Economics
Quantity demanded is affected not just by price but by other variables, such as income and the prices of other goods.
Answer the following statement true (T) or false (F)
Economics