Practice Quiz 4 Answers

A real gdp b real gdp per capita c cpi d nominal gdp

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Unformatted text preview: c. CPI d. nominal GDP If I was interested in the standard of living I would want per capita GDP, and to adjust for inflation I would use real per capita GDP. 11. a. b. c. d. Given the way we measure GDP, which of the following would increase GDP? my decision to grow my own vegetables in my garden this year the decision of my brother to become a "Mr. Mom and raise the family's kids my purchase of a new lamp for my office my "investment" of $1,500 in my retirement account e. my daughter's purchase of an historic house in downtown Newport GDP is the value of currently produced products. The only currently produced goods or services is the lamp purchase and the commission on the home purchase 12. Which one of the following statements is not true when we look at the economic history of the US in the 20th century? a. a sustained rise in i...
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This document was uploaded on 03/01/2014 for the course ECN 202 at Rhode Island.

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