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:

Overall Size

The total dimensions that define the outer limits or boundary of an object, part, or space, often specified in drawings for manufacturing or construction.

Oblique Drawings

Three-dimensional drawings where the front side is represented in true scale and the depth is represented on an angle.

Cavalier

In drafting and design, it refers to a type of oblique drawing where the depth is represented at full scale.

Dimension Line

A graphical representation in technical drawing, showing the direction and extent of a dimension, typically marked with arrowheads.