Real GDP Can Be Calculated Using Which of the Following

question 63

Multiple Choice

Real GDP can be calculated using which of the following formulas?

• A)(Nominal GDP / real GDP) ´ 100.
• B)(GDP chain price index / nominal GDP) ´ 100.
• C)(Nominal GDP x100) / (GDP implicit price deflator).
• D)(Nominal GDP / inflation rate) ´ 100.

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Definitions:

Mean Score

A statistical measure that represents the average value of a set of numbers.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values.

IQ Tests

Standardized assessments designed to measure human intelligence and cognitive abilities in relation to an average score.

Flynn Effect

The significant and enduring rise in scores for both fluid and crystallized intelligence tests recorded across various regions of the world during the 20th century.