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
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 1P
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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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbc958f98-a3e4-4fb8-8288-1bd8b438dbee%2F6636ca33-d96f-4be5-b6d7-7cbdb8226bf2%2Fl3labma_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbc958f98-a3e4-4fb8-8288-1bd8b438dbee%2F6636ca33-d96f-4be5-b6d7-7cbdb8226bf2%2F9emc4sn_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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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