In Evaluating an Economy's Performance Over a Period of Years,real

question 30

Multiple Choice

In evaluating an economy's performance over a period of years,real GDP provides a better measuring rod than GDP because

• A)GDP is distorted by its failure to show qualitative improvements in the products we manufacture.
• B)Real GDP is adjusted for the social and environmental costs of production,which are normally not compensated.
• C)Real GDP includes such productive endeavors as housewife services and home repairs that are performed by households without payment.
• D)Real GDP does not include the value of intermediate goods and services.
• E)GDP reflects changes in prices as well as changes in output,while real GDP only reflects changes in output.

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Definitions:

Testator

A person who writes a will.

Forgery

The fraudulent making or altering of a writing in a way that changes the legal rights and liabilities of another and with the intent to deceive or defraud.

Legal Document

A formal document that is legally enforceable or that can serve as evidence in a legal proceeding.

Intestate

The state of dying without a will.