Improvements in the Quality of Goods and Services Over Time

question 3

Multiple Choice

Improvements in the quality of goods and services over time

• A) cause GDP statistics to understate true output growth from year to year
• B) cause GDP statistics to overstate true output growth from year to year
• C) are fully accounted for in the Bureau of Economic Analysis' measurement of GDP
• D) are reflected in higher prices and therefore do not affect the measurement of real GDP
• E) are offset by declining productivity over time

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