Using the Chained-Dollar Method to Calculate Real GDP,real GDP Is

question 34

Multiple Choice

Using the chained-dollar method to calculate real GDP,real GDP is calculated by

• A)valuing the current output at last year's real GDP prices.
• B)valuing the current output at current year prices.
• C)averaging the growth of output from one year to the next when the growth rates are calculated using this year's prices and using last year's prices.
• D)either A or C,depending which gives the larger value for real GDP.
• E)averaging the value of current output valued using base year prices and current output valued using current year prices.

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