Which of the Following Statements Is True

question 36

Multiple Choice

Which of the following statements is true?

• A) The inclusion of intermediate goods and services into GDP calculations would underestimate our nation's production level.
• B) The expenditure approach sums the compensation of employees, rents, profits, net interest and non-income expenses for depreciation and indirect business taxes.
• C) Real GDP has been adjusted for changes in the general level of prices due to inflation.
• D) Real GDP equals nominal GDP multiplied by the GDP deflator.

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Definitions:

Rehearsal

The cognitive process of repeatedly practicing or going over information to aid in its retention and recall.

Elaboration

The process of adding more information to or providing additional details on a subject.

Bodily-kinesthetic

Intelligence that pertains to the ability to control physical motion and handle objects skillfully, as posited by Howard Gardner's theory of multiple intelligences.

Interpersonal

Concerning or involving relationships between people, especially regarding communication and emotional interaction.