In Computing GDP,market Prices Are Used in the Calculations Because

question 22

Multiple Choice

In computing GDP,market prices are used in the calculations because

• A)​market prices are constant over time.
• B)​market prices do not reflect how prices change over time.
• C)​market prices are consistently free of inflation.
• D)​market prices can be used to combine the variety of goods and services produced in an economy into a single measure.

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Definitions:

Surface

The outermost layer or boundary of an object or the superficial aspect of something as opposed to its essence.

Benefit

An advantage or profit gained from something, often used in the context of employment, insurance, or social welfare.

Logrolling

A practice in negotiation or politics where two parties agree to support each other's proposals or interests.

Outcome Probabilities

Outcome probabilities are the likelihood or chances that specific results will occur, often used in the context of predictive analysis or decision-making processes.