Valuing the Quantities of Goods Produced in Consecutive Years Using

question 21

Multiple Choice

Valuing the quantities of goods produced in consecutive years using prices in both years and then averaging the percentage changes in the value of output is part of the ________ method of calculating real GDP.

• A) base-year
• B) moving-base-year
• C) chain-weighted output index
• D) fixed quantities/variable prices

---

Definitions:

Writing Checks

The process of completing a check to make a payment from a bank account.

Order

A request or instruction to purchase, sell, or supply goods or services.

Vendor

An individual or company that sells goods or services to another entity, typically as part of the supply chain.

Document

A written, printed, or electronic record that provides evidence of a transaction or commitment.