Nominal Output Is the _______ of Goods and Services Produced

question 40

Multiple Choice

Nominal output is the _______ of goods and services produced and real output is the _______ of goods and services produced.

• A) dollar value; actual amount
• B) actual amount; dollar value
• C) actual amount; dollar value with inflation
• D) dollar value with inflation; dollar value without inflation

---

Definitions:

Statistic

A numerical value derived from a sample that is used to estimate properties of the population from which it was drawn.

Marketing Majors

Students who specialize in the study of marketing strategies, consumer behavior, and market research as part of their academic education.

Parameter

A measurable attribute that defines or limits the characteristics of a population or a statistical model.

Population

The entire group of individuals or instances about whom we seek to make conclusions.