When economists speak of changes in GDP measured in constant dollars, they mean that:
a. money GDP is constant.
b. the price level is constant.
c. a price index has been used to adjust money GDP for the effects of inflation.
d. the growth rate of money GDP has been adjusted for changes in population.
c
Economics
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Unemployment that results when individuals who have voluntarily quite their jobs are seeking jobs is called
A) cyclical unemployment. B) turnover unemployment. C) mismatch unemployment. D) natural unemployment.
Economics
A profit-maximizing monopolist
A. engages in more research and development activity than a perfectly competitive firm. B. produces the output level where P = MC. C. produces less output than a perfectly competitive industry. D. produces at the unit elastic point on the market demand curve.
Economics