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Nominal GDP and Real GDP
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Problem 9
Problem 10
Nominal GDP and Real GDP
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10. Measuring National Output and Income / Nominal GDP and Real GDP / Problem 9
Problem 9
What is the primary benefit of using chain-weighted prices in GDP calculations?
A
They simplify the calculation process by using a single price for all goods.
B
They provide a more accurate reflection of economic growth by adjusting for changes in relative prices.
C
They eliminate the need for base year prices.
D
They focus on short-term economic fluctuations.
0
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