A New Chain-Weighted Measure of Real GDP

question 56

Multiple Choice

A new chain-weighted measure of real GDP

• A)was introduced by the Bureau of Economic Analysis in 1995.
• B)uses the average of prices in a given year and prices in the previous year instead of using prices in a base year as weights.
• C)differs greatly from previous measures that utilized the base year method.
• D)Both a and b
• E)All of the above

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Definitions:

Localization

The concept that specific parts of the brain are associated with specific functions or behaviors.

Hertz

The unit of frequency in the International System of Units (SI), defined as one cycle per second.

Frequency

The rate at which something occurs over a particular period or in a given sample, often used in the context of waves or sound.

Kinesthetic

Relating to kinesthesia, the awareness of the position and movement of the parts of the body by means of sensory organs in the muscles and joints.