How to Calculate the GDP of a Country
How to Calculate the GDP of a Country
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Assume that you are told a country's nominal GDP decreased from one year to the next: All of the following could have occurred, except one Which one?Output increased and the price level decreased,Output decreased and the price level remained constant:Output decreased arid the price level decreased;Output decreased and thie price level increased.Output increased and the price level increased:Output remained constant and the price level decreased
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SOLVED: Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States?a. The costs of over-fishing and other overly intensive uses of resourcesb. The quality of goods available to consumersc. Federal government paychecks to soldiersd. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the governmente. All the above
SOLVED: Which of the following scenarios are either not accounte…
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