When One Converts Nominal GDP to Real GDP, One Takes

question 201

Multiple Choice

When one converts nominal GDP to real GDP, one takes into account which of the following?

• A) changes in the population
• B) changes in the quality of goods
• C) changes in the distribution of income
• D) none of the above

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Definitions:

Propagate

To reproduce, spread, or increase in number, often used in the context of plants (via seeds or cuttings) and ideas or information.

Upper Explosion Limit (UEL)

The highest concentration of vapor in air above which propagation of flame does not occur on contact with a source of ignition.

Thermobaric Bomb

A type of explosive weapon that uses oxygen from the surrounding air to generate a high-temperature explosion, producing a blast wave of significant duration.

Military

Relating to the armed forces or to soldiers, arms, or war, responsible for defense or combat in land, sea, and air.