Which of the Following Statements Is True

question 30

Multiple Choice

Which of the following statements is true ?

• A) The inclusion of intermediate goods and services into GDP calculations would underestimate our nation's production level.
• B) The expenditures approach sums the compensation of employees, rents, profits, net interest, and nonincome expenses for depreciation and indirect business taxes.
• C) Real GDP has been adjusted for changes in the general level of prices due to inflation.
• D) Real GDP equals nominal GDP multiplied by the GDP deflator.

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Definitions:

Affordable Care Act

A United States federal statute aimed at improving and expanding access to health care coverage for Americans.

Tax Credits

Financial incentives that reduce the amount of tax owed to the government, dollar for dollar.

IRS Rule

A directive or regulation issued by the Internal Revenue Service that interprets and applies tax laws.

Statute Interpretation

The process by which courts analyze and determine the meaning of legislation passed by the legislature.