Real GDP is calculated by:
A. multiplying nominal GDP by the appropriate price index times 100.
B. dividing nominal GDP by the inflation rate times 100.
C. dividing nominal GDP by the appropriate price index times 100.
D. multiplying nominal GDP by the inflation rate times 100.
Answer: C
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Refer to Table 4-8. If a minimum wage of $10.50 an hour is mandated, what is the quantity of labor demanded?
A) 400,000 B) 370,000 C) 340,000 D) 60,000
The current account must necessarily always be in balance
Indicate whether the statement is true or false
One of the primary reasons tax withholding was instituted was _____
a. help speed up payments to the government b. decrease the government's record-keeping burden c. to improve the ability to audit individuals d. so that top marginal tax rates could be tripled
A baby boom will have what immediate effect on the disposable diaper market?
a. Supply decreases. b. Supply increases. c. Demand decreases. d. Demand increases. e. Supply and demand remains the same.