___ GDP is used to track the economy since it ___ correct for the impact of inflation (rising prices).
A. Nominal, does
B. Nominal, does not
C. Real, does
D. Real, does not
Answer: C. Real, does
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The price elasticity of demand is a measure of:
A. the change in quantity demanded of a good that results from a change in its price. B. the demand for a good. C. how consumers respond to excess demand. D. the change in price of a good that results from a change in its quantity demanded.
The Federal reserve can increase the money supply by lowering the reserve requirement or raising the discount rate
Indicate whether the statement is true or false
Lowering the corporate income tax rate ________ the user cost of capital, which ________ investment
A) raises, depresses B) raises, stimulates C) lowers, depresses D) lowers, stimulates
The identity stating that the total amount spent on final output equals the amount received for final output is known as the
A) equation of exchange.
B) circular flow identity.
C) identity equation.
D) fundamental law of economic