Real GDP Is a Better Gauge of Economic Well-Being Than

question 157

True/False

Real GDP is a better gauge of economic well-being than is nominal GDP.

---

Definitions:

Dummy Variable

A variable used in regression analysis to represent subgroups of the sample in your study.

Nominal Independent Variable

A variable used in statistical analysis that represents categories without a natural order or ranking.

Indicator Variables

Binary variables that represent presence (1) or absence (0) of a characteristic.

Multiple Regression Model

A statistical procedure involving multiple predictor variables to calculate the outcome of a target variable.