Please answer correct option explain plzBoth are questions please help Which of the following is correct?O Future year prices are used in measuring the value of the goods and services for thisyears Nominal GDP.O Base year prices are used in measuring the value of the goods and services for this yearsReal GDP.O Current year prices are used in measuring the value of the goods and services for thisyears Real GDP.Price are not a good method to masure value and, therefore, are not used in thecalculation of Nominal GDP. Which of the following is included in 2016's GDP?O the value of a motorcycle produced in the United States in 2015 and exported to Japanthe value of a steel produced in 2016 that purchased by lawnmower manufacturer toproduce more lawnmowersO the commission earned by a headhunter in 2016 when she locates a job for a clientthe profit earned in 2016 from selling a stock

Gross domestic product measures the market value of final goods and services produced during a given…

Which of the following is correct? O Future year prices are used in measuring the value of the goods and services for this years Nominal GDP. O Base year prices are used in measuring the value of the goods and services for this years Real GDP. FENE 89 24 8

Which of the following is correct? O Future year prices are used in measuring the value of the goods and services for this years Nominal GDP. O Base year prices are used in measuring the value of the goods and services for this years Real GDP. FENE 89 24 8

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please answer correct option explain plz

Both are questions please help

Which of the following is correct?
O Future year prices are used in measuring the value of the goods and services for this
years Nominal GDP.
O Base year prices are used in measuring the value of the goods and services for this years
Real GDP.
O Current year prices are used in measuring the value of the goods and services for this
years Real GDP.
Price are not a good method to masure value and, therefore, are not used in the
calculation of Nominal GDP.

Which of the following is included in 2016's GDP?
O the value of a motorcycle produced in the United States in 2015 and exported to Japan
the value of a steel produced in 2016 that purchased by lawnmower manufacturer to
produce more lawnmowers
O the commission earned by a headhunter in 2016 when she locates a job for a client
the profit earned in 2016 from selling a stock

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