A chain-weighted index
A) calculates changes in prices by using an average of base years from neighboring years to obtain a more accurate measure of real GDP growth.
B) is used to understate the rate of inflation.
C) is a useful tool for determining which fence to purchase.
D) uses neighboring years' data to calculate changes in nominal GDP.
A
You might also like to view...
For barter to occur there must be
A) two people willing to pay with credit. B) a double coincidence of wants for each good to be exchanged. C) one person who pays cash. D) hyperinflation.
An aggregate production function:
A) shows various combinations of labor and capital that can be used to produce a particular good. B) shows various quantities of two goods that can be produced at a given cost. C) shows the relationship between a country's GDP and its factors of production. D) shows the relationship between a country's output and its price level.
Significant economic growth did not begin in the world until
A) 1000 A.D. B) 1750 A.D. C) 1820 A.D. D) the 20th century A.D.
The income net of taxes is called _____
a. real income b. disposable income c. nominal income d. taxable income e. personal income