In Order to Determine the Economy's Real GDP Growth Rate

question 94

Multiple Choice

In order to determine the economy's real GDP growth rate between two time periods,we should look at

• A)nominal national income,because it compares actual output in each time period.
• B)real national income in each time period,which is equal to nominal national income corrected for price-level changes.
• C)potential national income,corrected for price-level changes.
• D)real national income in each period,which is equal to nominal national income corrected for quantity changes.
• E)only the real national product from the latest time period.

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Definitions:

Moral Obligation

A duty or commitment to act in ways considered ethical and right, often irrespective of legal obligations.

Genetically Considered

Taking into account genetic factors or information in evaluation or decision-making processes.

Embryonic Stem Cells

Cells derived from an embryo that have the potential to develop into many different types of cells in the body, used for research and potential treatments.

Differentiate

To recognize what makes someone or something different.