The measure of production that values production using current prices is called
A) nominal GDP. B) value-added GDP.
C) real GDP. D) underground GDP.
A
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A market in which national currencies are traded by households, firms and governments, is referred to as a(n)
A) foreign exchange market. B) fed funds market. C) international reserves market. D) gold certificate market.
Suppose that a country has an inflation rate of about 3 percent per year and a real GDP growth rate of about 3 percent per year. How large of a deficit can the government run (as a percentage of GDP) without raising the debt-to-income ratio?
Which of the following Gauss-Markov assumptions is violated by the linear probability model?
A. The assumption of constant variance of the error term. B. The assumption of zero conditional mean of the error term. C. The assumption of no exact linear relationship among independent variables. D. The assumption that none of the independent variables are constants.