The difference between nominal GDP and real GDP is
A) the indirect taxes used in their calculations.
B) the prices used in their calculations.
C) that nominal GDP includes the depreciation of capital and real GDP does not.
D) that nominal GDP includes net exports of goods and services and real GDP includes net imports.
E) that real GDP includes the depreciation of capital and nominal GDP does not.
B
You might also like to view...
What is the relationship between the price, P, and the average total cost, ATC, for a firm in perfect competition that makes an economic profit? That makes zero economic profit? That incurs an economic loss?
What will be an ideal response?
Explain why women, on average, earn less than men in the United States.
What will be an ideal response?
The program that was created to provide rebates of Social Security taxes to low-income workers is
A. food stamps. B. Earned Income Tax Credit program. C. Supplemental Security Income. D. TANF.
If more output could be produced with the same amount of inputs,
A. it is possible to make some people better off without making others worse off. B. everyone must be made better off. C. it is not possible to make some people better off without making others worse off. D. no one can be made better off, but some will be made worse off.