Real GDP
a. is the current dollar value of all goods produced by the citizens of an economy within a given time.
b. measures economic activity and income.
c. is used primarily to measure long-run changes rather than short-run fluctuations.
d. All of the above are correct.
b
Economics
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Scarcity is a problem:
a. because human wants are unlimited while resources are limited. b. only in industrialized economies. c. of the poor, but not the rich. d. measured by the amount of goods available.
Economics
All of the following are macroeconomic effects of inflation except
A. Bracket creep. B. Uncertainty. C. Speculation. D. Lower taxes.
Economics