As used in this text, "autonomous" variables are
A) spontaneous variables that are completely unpredictable.
B) completely independent of income, although they can be explained by movements in other variables.
C) determined only by income levels.
D) the same as endogenous variables.
B
Economics
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GDP is
A) a perfect measure of the value of production. B) an imperfect measure of the standard of living. C) the only factor that affects our standard of living. D) a perfect measure of the standard of living. E) a measure which includes the value of all newly produced goods and services.
Economics
GDP figures are in billions of dollars.
Refer to the above table. What was real GDP in Year 2?
A.
$4,820 billion
B.
$4,875 billion
C.
$4,911 billion
D.
$5,320 billion
Economics