Is nominal GDP measured in terms of quantity or in terms of dollars? If dollars, the value of the dollar from what period? Is real GDP measured in terms of quantity or in terms of dollars? If dollars, the value of the dollar from what period?
What will be an ideal response?
Both nominal GDP and real GDP are measured in terms of dollars. Nominal GDP is measured using the value of the dollar for that specific year, and real GDP is measured using the value of the dollar for the base year.
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Which is the largest component of aggregate expenditure?
A) consumption expenditures B) government expenditures C) net export expenditures D) planned investment expenditures
Actions to lower the probability of a bad outcome ________ its expected cost and these actions are ________.
A) increase; inexpensive B) decrease; costly C) decrease; inexpensive D) increase; costly
Input choices in the present are often affected by past decisions
a. True b. False Indicate whether the statement is true or false
The first year of the New Deal was
A. 1929. B. 1933. C. 1945. D. 1952.