Nominal GDP differs from real GDP because:
a. Real GDP is adjusted for changes in the price level
b. Nominal GDP is adjusted for changes in the price level
c. Nominal GDP is based on constant prices
d. Real GDP is based on current prices
a. Real GDP is adjusted for changes in the price level
You might also like to view...
In 1972, a very controversial study asserted that income differences among individuals did not depend on genetic differences in reasoning ability, or differences between schools, or family background. Moreover, the effects of level of schooling are much less than previously understood. After controlling for all of these background variables, much of the variation in earnings appeared to be random. From this analysis, one might reach the very controversial conclusion that earnings depended to a very great extent on
A. human capital. B. ability. C. schooling. D. luck.
The cost of producing a car in Germany is 2,000 bushels of wheat, and the cost of producing a car in Canada is 1,200 bushels of wheat. The two countries can both benefit if the terms of trade are
a. greater than 2,000 of wheat per car b. less than 1,200 bushels of wheat per car c. between 1,200 bushels and 2,000 bushels of wheat per car, and Germany produces wheat d. between 1,200 bushels and 2,000 bushels of wheat per car, and Germany produces cars e. between 1,200 bushels and 2,000 bushels of wheat per car, and Canada produces wheat
Which of the following is a final good or service?
a) a haircut purchased by a father for his 12 year-old son b) fertilizer purchased by a farm supplier c) diesel fuel bought for a delivery truck d) Chevrolet windows purchased by a General Motors assembly plant
Identify four factors that will cause the value of call options to increase.
What will be an ideal response?