Which of the Following Is Equivalent to Real GDP

question 16

Multiple Choice

Which of the following is equivalent to real GDP?

• A)the money value of all goods and services produced in an economy per year plus imports
• B)the market value of all goods and services produced in an economy per year
• C)personal disposable income plus depreciation
• D)the value added of all goods and services produced in an economy per year adjusted for price changes
• E)the nominal value of all goods and services in an economy per year

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Definitions:

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A technique in statistics for using multiple independent factors to predict the behavior of a response variable.

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A numerical or constant quantity placed before and multiplying the variable in an algebraic expression (e.g., in linear models, indicating the magnitude and direction of the relationship).

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A statistical technique used to predict the outcome of a dependent variable based on several independent variables.