Define real GDP and nominal GDP. Which is a better measure of economic well-being? Why? What is the value of using real GDP instead of nominal GDP? What are the differences of nominal and real GDP and what is the importance of real GDP?
Suppose that in a particular year, nominal GDP is less than real GDP. This implies that:A)inflation is lowB)inflation is highC)the year in question prior to the base yearD)the year in question after the base yearE)the answer cannot be determinedfrom the informationgiven 相关知识点: 试...
Real GDP: The real GDP is the gross domestic product of a nation adjusted to inflation. It is different from the nominal GDP since the latter measures a country's GDP using its current inflation-unadjusted prices. The calculation of the real GDP in a base ye...
Nominal GDP is better than real GDP because a rise in the price of final goods and services is considered.2. To compare increases in living standards in different countries, it is more meaningful to measure the average annual rate of increase of real gross domestic product per head of ...
Year 2: GDP deflator = $670 / $420 x 100 = $160 Year 3: GDP deflator = $940 / $470 x 100 = $200 Summary Definition Define Nominal GDP:Nominal gross domestic product is an economic formula that measures the total market value of all goods and services produced by a country in a ...
Real gross domestic product (GDP) gives a clearer picture of economic output than nominal GDP as it adjusts the numbers for inflation or deflation.
题目给出的名义GDP为250亿美元,GDP平减指数为125。代入公式计算: (实际 GDP) = (25)/(125) * 100 = 0.2 * 100 = 20 ( 亿美元) 对选项逐一分析: - **a. $312.5 billion**:错误。此结果是\(25 \times 125\)得出的,错误地使用了乘法而非除法。 - **b. $207.5 billion**:错误。此数值无合理...
the same things as GDP. goods produced outside of U.S. borders. the production of both intermediate and final goods. GDP per capita is the market value of all final goods and services produced within a country in a year divided by population. the market value of all final goods and ...
a. nominal GDP declines for about two consecutive quarters.b. nominal GDP declines for about fourconsecutive quarters.c. real GDPdeclines for about two consecutive quarters.d. the GDP deflator declines for about four consecutive quarters.ANS: C PTS: 1 DIF: 2 REF: 23-4TOP: Recessions MSC: ...
TRUE/FALSE 1. If you want to compare a country's economic progress over time, it is usually a good idea to use a measure known as nominal GDP. 2. Gross Domestic Product (GDP) is something we can mea State true or false and justify your answer: The GDP stands...