Nominal GDP is measured by calculating real GDP at constant prices
Indicate whether the statement is true or false
FALSE
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In the long run, total spending only influences:
A. potential output. B. actual output. C. productive capacity. D. inflation.
Based on historical data, which of the following tended to be most variable over time?
A) real investment spending B) the average propensity to consume C) real consumption spending D) real saving
If the price of a good falls, before the amount consumed changes the marginal utility per dollar from that good
A) decreases. B) increases. C) might either increase or decrease depending on whether the good is a substitute or a complement. D) More information is needed to determine the answer.
If the graph shown represents Stella's budget constraint, and hairbands cost $4, what must Stella's income to spend on these two items be?
A. $32
B. $16
C. $48
D. Cannot answer this question without more information.