The chain-weighted output index method of calculating real GDP compares

A) compares the quantities of goods produced in consecutive years using prices in both years and averaging the percentage changes in the value of output.
B) quantities produced in different years using prices from a year chosen as a reference period.
C) quantities produced in different years with the prices that prevailed during the year in which the output was produced.
D) prices at different points in time using a sample of goods that is representative of goods purchased by households.

A

Economics

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If GDP per capita in year T is represented by YT, and the GDP per capita in the following year is represented by YT+1, then the formula for calculating growth rate between these two years is ________

A) (YT+1 - YT)/YT B) (YT+1 + YT)/YT+1 C) (YT+1 + YT)/YT D) (YT+1/YT)/100

Economics

Raising taxes and cutting spending are examples of ________

A) fiscal policy tightening B) fiscal policy expansion C) monetary policy tightening D) monetary policy expansion E) none of the above

Economics