To Make the Calculation of Real GDP More Accurate,in 1996

question 69

Multiple Choice

To make the calculation of real GDP more accurate,in 1996 the BEA switched to using

• A)base-year prices.
• B)current prices.
• C)chain-weighted prices.
• D)market prices.

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Definitions:

Linear Relationship

A type of association where changes in a variable predictably correspond to changes in another variable with a constant rate.

Horizontal Axis

The x-axis in a graph or chart, typically representing the independent variable or the scale of time.

Vertical Axis

The y-axis in a chart or graph, which often represents the range of the dependent variable.

Slope

The rate at which a line inclines or declines, showing the relationship between two variables in a graph, calculated as the rise over the run.