GDP is a useful measure since it provides a single measure of the value of the entire variety of goods and services produced by an economy

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Is it possible for nominal GDP to increase while real GDP does not change?

What will be an ideal response?

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The percentage of retired older workers has increased dramatically since the introduction of Social Security.

A. True B. False C. Uncertain

Economics

Multinational businesses produce and sell goods around the world

a. True b. False Indicate whether the statement is true or false

Economics

Changes in which of the following factors would affect the growth of an economy?

I. Quantity and quality of human and natural resources II. Amount of capital goods available III. Technology (a) I only (b) I and II only (c) I and III only (d) II and III only (e) I, II, and III

Economics