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:

Anecdotal Evidence

Evidence based on personal accounts, observations, or stories, which may not be scientifically proven or reliable.

Reporting Biases

Distortions in reported information, often due to selective revelations or suppression of certain details, which can affect the reliability of data.

Journal Article

A piece of writing published in a scholarly journal, usually peer-reviewed, that presents original research findings or reviews existing research in a specific field.

Sequencing

The arrangement of events, objects, or actions in a particular order or sequence.