Measures of Public Spending in Real Terms Are Calculated

question 13

Multiple Choice

Measures of public spending in real terms are calculated:

• A) Excluding state pensions and other welfare payments
• B) In cash terms not adjusted for inflation
• C) As a share of national income
• D) In cash terms adjusted for inflation

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Definitions:

Dollars

Dollars are a unit of currency used in various countries, including the United States, representing the medium of exchange for goods and services.

Yen

The official currency of Japan.

Pounds

A unit of weight in the imperial system equal to 16 ounces, or the currency of the United Kingdom.

C$1.00 Decreased

A specific case indicating a reduction in value by one Canadian dollar.