Assessment 1 Which one of the following statements is INCORRECT? Select one: A Real GDP is a measurement of GDP in which the quantities produced are valued at the prices in a base year, in other words, it considers inflation. B. GDP at constant prices measures the actual physical volume of production valued at the prices in a base year. C. GDP at current prices takes a continuous and considerable rise in the prices of goods and services into consideration. D. An increase in the prices of goods and services produced might increase the nominal GDP over time.
Assessment 1 Which one of the following statements is INCORRECT? Select one: A Real GDP is a measurement of GDP in which the quantities produced are valued at the prices in a base year, in other words, it considers inflation. B. GDP at constant prices measures the actual physical volume of production valued at the prices in a base year. C. GDP at current prices takes a continuous and considerable rise in the prices of goods and services into consideration. D. An increase in the prices of goods and services produced might increase the nominal GDP over time.
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 1P
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Assessment 1
Which one of the following statements is INCORRECT?
Select one:
A Real GDP is a measurement of GDP in which the quantities produced are valued at the prices in a base year, in other
words, it considers inflation.
B. GDP at constant prices measures the actual physical volume of production valued at the prices in a base year.
C. GDP at current prices takes a continuous and considerable rise in the prices of goods and services into consideration.
D. An increase in the prices of goods and services produced might increase the nominal GDP over time.
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