ZuoTi.Pro
Question







From an economists perspective, analyzing nominal GDP data is more useful than analyzing real GDP data? OA) True QB) False
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

False

Explanation: Nominal GDP does not take inflation into account but real GDP does. Therefore, real GDP is a more accurate representation of the output in an economy.

0 0
Add a comment
Know the answer?
Add Answer to:
From an economist's perspective, analyzing nominal GDP data is more useful than analyzing real GDP data?...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Nominal and real GDP The accompanying table shows data on nominal GDP (in billions of dollars),...

    Nominal and real GDP The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2007 dollars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966–2016. Year nominal GDP ( billions of dollars) real GDPBILLIONS OF 2007 DOLLARS POPULATION thousands 1966 64.8 431.9 19998 1976 200 658 23414 1986 524.5 897 26067 1996 857 1104.3 29570 2006 1492.2 1541.7...

  • Below are some data from the land of milk and honey. Compute nominal GDP, real GDP,...

    Below are some data from the land of milk and honey. Compute nominal GDP, real GDP, and the GDP deflator for each year, using 2008 as the base year. Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2009 and 2010 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answers make sense. Did economic well-being rise more in 2009 or 2010? Explain Year Price...

  • "Real GDP" is "nominal GDP" adjusted to a base years prices so that the real quantity...

    "Real GDP" is "nominal GDP" adjusted to a base years prices so that the real quantity growth can be determined independent of inflationary effects. Group of answer choices True False

  • Question 6 2 pts The nominal GDP can be lower for a given year than the...

    Question 6 2 pts The nominal GDP can be lower for a given year than the real GDP. For example, if the real GDP in 2019 for a country is $50,000,000, we know the nominal GDP in 2019 for that country can be something below $50,000,000 True False

  • Real-Time Data Analysis Exercise The following table contains nominal GDP and the GDP deflator from FRED*...

    Real-Time Data Analysis Exercise The following table contains nominal GDP and the GDP deflator from FRED* for the second quarter of 2019 and 2018. *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. Period 2019: Q2 2018: Q2 GDP Deflator 112.18 110.28 Nominal GDP $21,339.121 bil. $20,510.177 bil. Complete the following table by using the data above to compute the real GDP for each period. (Enter your responses rounded to one decimal place.) Period...

  • The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2009 dollars)

    The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2009 dollars), and population (in thousands) of the United States in 1965,1975,1985,1995,2005, and 2015 . The U.S. price level rose consistently over the period 1965-2015.YearNominal GDP (billions of dollars)Real GDP (billions of 2009 dollars)Population (thousands)1965$743.7$3,976.7194,25019751,688.95,385.4215,89119854,346.77,593.8238,41619957,664.110,174.8266,458200513,093.714,234.2296,115201517,947.016,348.9321,601a. Why is real GDP greater than nominal GDP for all years until 2005 and lower for 2015 ?b. Calculate the percent change in real GDP from 1965 to...

  • Due Monday, January 21, 2019 1. Nominal and real GDP nying table shows data on nominal...

    Due Monday, January 21, 2019 1. Nominal and real GDP nying table shows data on nominal GDP (in billions of dollars), real GDP (in bilions of 2007 dollars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966-2016. Nominal GDP bitlions ofbitions of Population ollans2007 dollar) Chous $64.8 200.0 524.5 8570 $431.9 658.0 19 998 23 414 26 067 29 570 32 520 36 229 1976...

  • D l Question 1 Nominal (or money) income is more important to the consumer than real...

    D l Question 1 Nominal (or money) income is more important to the consumer than real income. True o False D | Question 2 he same. his real income will rise Question 3 arch

  • Question 2 If Nominal GDP is $12,000 billion and the GDP deflator is 80, then Real...

    Question 2 If Nominal GDP is $12,000 billion and the GDP deflator is 80, then Real GDP is ________. a) $15,000 billion b) $9,600 billion c) $21,600 billion Question 3 If inflation occurs in a given year, a) the change in the real measurement (GDP) would be equal to the change in the nominal one. b) the change in the real measurement (GDP) would be greater than the change in the nominal one. c) the change in the real measurement...

  • 8. accompanying table shows data on nominal GDP in billions of dollars), real GDP (in billions...

    8. accompanying table shows data on nominal GDP in billions of dollars), real GDP (in billions of 2007 doll lars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966-2016. Nominal GDP (billions of dollars) $64.8 200.0 524.5 857.0 Real GDP (billions of Population 2007 dollars) (thousands) Year 1966 1976 1986 1996 2006 2016 $431.9 19 998 23 414 26 067 29 570 32 529 658.0...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT