which of the following is true of gross domestic product group of answer choices

The key difference between a stock and a flow is that a flow is measured ________, while a stock is measured ________. How does the automatic adjustment mechanism move the economy to potential real gross domestic product (GDP) in the long run when current real GDP is above potential GDP? economy to answer questions 14 and 15. The relationship between the average price of aggregate output and the quantity of aggregate output demanded is: A reason why the aggregate demand curve slopes downward is: c. a lower price level increases the buying power of households. D. It can give us guidance on the living standards of a

Select the best answer for each question below. Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. $3 trillion _____ is measured in terms of current-year prices. Sie können Ihre Einstellungen jederzeit ändern.

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Thus, the correct answer is Answer D, which includes both A and B. If the real gross domestic product (GDP) for the base year is $3 trillion, then the nominal gross domestic product (GDP) for that year is _____. If the nominal GDP for a given year is $500 Billion and the real GDP for that year is $400 Billion then which of the following must be true. GDP GDP Current or Price Deflator Price Deflator Nominal Index Index YEAR GDP (1990 = 100) (2000 = 100) 1990 $500 100 2000 $1,200 200 100 14. Suppose we have an economy which lasts only for one period. The market value of all final goods and services produced in a nation during a period of time such as a year. d. the performance of the national economy and how the national economy interacts with other economies. 2 years ago, Posted © 2003-2020 Chegg Inc. All rights reserved. (D) $1,200. Which of the following is true of gross domestic product? 13 days ago, Posted one year ago, Posted Which of the following factors important in determining our standard of living are not reflected in the Gross Domestic Product? Which of the following correctly describes the condition that generates the equilibrium levels of price and aggregate output in the economy? nation. Which of the following is true of gross domestic product?

| It Only Measures Output. Answer A is true because that is the definition of the GDP deflator. The value of the gross domestic product in 2000, in terms of 1990 prices, was (A) $600.

Posted In terms... f productivity, its the last step that counts, and its only the last step that must be counted in terms of GDP calculation. It measures price inflation. (E) $1,300. 7 days ago, Posted … Refer to the above data. Government purchases include government spending on: If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that: Which of the following best measures improvements in the standard of living of a nation? The best measure of the average standard of living is: A key tenet of the supply-side economic theory of the 1980s was that government tax cuts would increase after-tax wages, stimulating the incentive to seek higher wages through increased labor supply. The aggregate supply curve shows how much output U.S. producers are willing and able to supply at each price level, other things constant. Which of the following best describes gross domestic product (GDP)? Kimberly voluntarily quit her job as an insurance agent to return to school full-time to earn an MBA.

Disposable personal income equals personal income MINUS personal taxes, not plus. 10 days ago. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. What factors are parts of the leading economic indicators? Which Of The Following Is True Of Gross Domestic Product? Gross domestic product (GDP) is the total market value of all the finished goods and services produced within a country's borders in a certain time period. Major economies around the world, such as the U.S. and Great Britain, are largely independent of one another, and thus their economic fluctuations bear little relationship to one another. illegally sold or legally sold but not reported to the government. 2. $6,080 billion B. 9 days ago, Posted It Only Measures Output. Answer B is true because GDP must take into consideration only the final sale price of a good, as the final sale price takes into consideration all the intermediate steps. Privacy F. It Measures Price Inflation.

If you count the intermediate steps, GDP calculations would be much higher. If we increased efforts to count those goods and services, GDP Because of these assumptions, there will be no trade in the goods market. would _____________. Once you have completed all questions, click the "Submit Answers for Grading" button to display the correct answers along with your own answers. View desktop site. D) is always some amount less than its NDP. There are N individuals of each type i= 1, 2.

The largest U.S. economic expansion between 1890 and the present occurred during which of the following events? Answer C is incorrect. Which of the following statements about gross domestic product are true?

10 months ago, Posted If the nominal gross domestic product (GDP) of the nation of Hypothetica increased in 2007 relative to the previous year, it must be true that in Hypothetica in 2007 answer choices both the price level and the real GDP have increased

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