Real GDP Measures

question 43

Multiple Choice

Real GDP measures

• A)the constant-dollar value of the potential output of the nation's economy over the period of one year.
• B)the quantity of total output produced by the nation's economy over the period of one year.
• C)the fluctuations of national income around its long-term trend.
• D)the annual growth rate of real national income.
• E)the long-term trend in total output produced by the nation's economy.

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Definitions:

Deviation IQ

A measure of an individual's intelligence expressed as a score derived from standardized tests, adjusted for the person's age.

Normal Distribution

A bell-shaped curve that represents the spread of a variable in a way that most occurrences take place around the central peak and the probabilities for values further away from the mean taper off equally in both directions.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values relative to the mean.

Crystallized Intelligence

The ability to use learned knowledge and experience effectively.