Real GDP for the Year 2000 (Measured in 2005 Dollars)

question 64

Multiple Choice

Real GDP for the year 2000 (measured in 2005 dollars) is equal to:

• A) 2000 prices × 2000 quantities.
• B) 2005 prices × 2000 quantities.
• C) 2000 prices × 2005 quantities.
• D) 2005 prices × 2005 quantities.

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Definitions:

Misrepresentation

The act of providing false or misleading information with the intention to deceive in a contractual agreement.

Indemnify

To compensate for loss or damage, or to guarantee protection against future losses.

Void Ab Initio

Describes a contract or agreement that is considered null from its inception, meaning it never had legal validity.

Insurable Interest

A stake in the value of an entity or event for which an insurance policy may be obtained to cover losses.