Real GDP Is the Yearly Production of Final Goods and Services

question 46

Multiple Choice

Real GDP is the yearly production of final goods and services valued at

• A)current prices.
• B)constant prices.
• C)expected future prices.
• D)the ratio of current prices to constant prices.

---

Definitions:

Collection Time

The average period it takes for a business to receive payments owed by its customers for goods or services.

Cheques

Physical, written instruments instructing a bank to pay a specific amount of money from the writer's account to the person or entity named on the cheque.