NGDP vs. RGDP
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Last updated 12 months ago
5 questions
1
We have already learned about GDP, which is also called nominal GDP as it reflects prices of goods produced at that time.
We have already learned about GDP, which is also called nominal GDP as it reflects prices of goods produced at that time.
1
Select all that apply. If the GDP were to quadruple, which of the following could be the reason why.
Select all that apply. If the GDP were to quadruple, which of the following could be the reason why.
1
REAL GDP is __________ output @ __________ prices.
1
| Draggable item | arrow_right_alt | Corresponding Item |
|---|---|---|
C | arrow_right_alt | Consumption (HH) Spending |
I | arrow_right_alt | Investment (Business) Spending |
G | arrow_right_alt | Government Spending |
NX | arrow_right_alt | Net Exports (Exports-Imports) |
1
What is the formula for Real Income?
What is the formula for Real Income?