If you wanted to compare the quantity of output of a country across time periods, which of the following would you use?
What will be an ideal response?
Real GDP.
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In the figure above, income is most unequally distributed
A) in Country A. B) in Country B. C) in Country C. D) in one of the nations, but without more information, it is not possible to determine in which country income is distributed most unequally.
Explain the difference between a change in supply and a change in quantity supplied
What will be an ideal response?
How would budget deficit reduction through reduced government spending affect economic growth?
a. It would not affect economic growth because the budget deficit and economic growth are unrelated. b. It would stimulate economic growth. c. It would hinder economic growth. d. It would not affect economic growth because the positive and negative effects of deficit reduction would cancel each other out. e. It depends on which government programs are cut to achieve deficit reduction.
The ________ exchange rate incorporates both the market exchange rate and the product price levels for two countries.
A. real bilateral B. nominal bilateral C. nominal effective D. real effective