Nominal gross domestic product is based on:
a. the existing prices at which final goods and services are actually sold.
b. prices of final goods and services adjusted for inflation.
c. prices at which intermediate goods are sold.
d. none of these.
a
Economics
You might also like to view...
The economic costs of forming a currency union will be lower whenever:
A) labor market integration is lower. B) labor market integration is higher. C) labor markets are not integrated. D) wage rigidities are present.
Economics
The tables above show a nation's labor demand and labor supply schedules and its production function. Given the equilibrium in the labor market, potential GDP is
A) $3.0 trillion. B) $3.7 trillion. C) $4.2 trillion. D) $4.5 trillion. E) $2.0 trillion.
Economics