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If Statistics Canada Uses a Base Year of 2007 for Prices,real

question 49

Multiple Choice

If Statistics Canada uses a base year of 2007 for prices,real GDP will be ________ nominal GDP in 2007.


Definitions:

Health Insurance

A type of insurance coverage that pays for an individual's medical and surgical expenses.

Efficient Market

A market in which prices fully reflect available information, allowing for optimal allocation of resources.

Positive Statement

An objective statement that can be tested, amended, or rejected by referring to the available evidence.

Insurance Benefits

Insurance benefits are payments made by an insurance company to the insured or a designated beneficiary under the terms of an insurance policy.

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