The Reference Base Year Is 2017

question 46

Multiple Choice

The reference base year is 2017. To calculate the chained- dollar real GDP in 2018 we calculate

• A)the value of the final goods and services produced in 2018 valued at the prices that prevailed in 2018.
• B)the value of final goods and services produced in the base year valued at the 2018 prices.
• C)the value of the final goods and services produced in 2018 valued at the prices that prevailed in the base year.
• D)the base- year GDP and add the average of the increases in real GDP calculated using 2017 prices and 2018 prices.
• E)nominal GDP in 2018 multiplied by price level.

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Definitions:

Union Organizers

Individuals or groups involved in forming or promoting the interests of labor unions among workers.

Work Outcomes

The results or outputs generated through employee efforts, which can include productivity, quality, and satisfaction levels.

Unionization Rates

The percentage of a workforce that is a member of a union or covered by a union contract.

Union Certification Elections

Union Certification Elections are formal voting processes conducted to determine whether a majority of employees wish to be represented by a union in collective bargaining with their employer.