Real GDP Is a Better Measure of Economic Well-Being Than

question 96

Multiple Choice

Real GDP is a better measure of economic well-being than nominal GDP, because real GDP:

• A) excludes the value of goods and services exported aboard.
• B) includes the value of government transfer payments.
• C) measures changes in the quantity of goods and services produced by holding prices constant.
• D) adjusts the value of goods and services produced for changes in the foreign exchange rate.

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Definitions:

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